Although the Nasdaq Composite jumped 1.75% on Tuesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.
- The Trade: NextEra Energy, Inc. NEE President and CEO John Ketchum acquired a total of 12,909 shares at an average price of $78.33. To acquire these shares, it cost around $1.01 million.
- What’s Happening: NextEra Energy, last month, issued adjusted EPS guidance for 2022-2025.
- What NextEra Energy Does: NextEra Energy's regulated utility, Florida Power & Light, distributes power to more than 5 million customers in Florida. FP&L contributes more than 60% of the group's operating earnings.
- The Trade: Beyond Air, Inc. XAIR Director Robert Carey acquired a total of 175,000 shares at an average price of $6.45. To acquire these shares, it cost around $1.13 million.
- What’s Happening: The FDA recently approved Beyond Air’s LungFit PH to treat term and near-term neonates with hypoxic respiratory failure (often referred to as persistent pulmonary hypertension of the newborn or PPHN).
- What Beyond Air Does: Beyond Air Inc is a clinical-stage medical device and biopharmaceutical company which develops a Nitric Oxide (NO) Generator and Delivery System that uses NO generated from ambient air and delivers precise amounts of NO to the lungs for the potential treatment of respiratory and other diseases.
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- The Trade: H.B. Fuller Company FUL Director Teresa Trangsrud Rasmussen bought a total of 1,000 shares at an average price of $58.20. To acquire these shares, it cost around $58.2 thousand.
- What’s Happening: The company recently posted upbeat Q2 results.
- What H.B. Fuller Does: H.B. Fuller manufactures and sells adhesives, sealants, and other chemical-based products.
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