Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Protalix BioTherapeutics' CEO, Dror Bashan, made a $102,000 purchase of PLX, buying 68,000 shares at a cost of $1.50 each. Bargain hunters can buy PLX at a price even lower than Bashan did, with shares trading as low as $1.33 at last check today which is 11.3% below Bashan's purchase price. Protalix BioTherapeutics is trading up about 0.8% on the day Thursday.
And at Hashicorp, there was insider buying on Monday, by Director Glenn Solomon who purchased 1,825 shares at a cost of $49.78 each, for a trade totaling $90,848. Hashicorp is trading down about 2.9% on the day Thursday. Solomon was up about 16.8% on the buy at the high point of today's trading session, with HCP trading as high as $58.12 in trading on Thursday.
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