Although US stocks traded higher on Monday, 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: Enviva Inc. EVA Director Jeffrey W Ubben acquired a total of 25,000 shares an average price of $50.25. To acquire these shares, it cost around $1.26 million.
- What’s Happening: JP Morgan recently maintained Enviva with a Neutral and lowered the price target from $66 to $60.
- What Enviva Does: Enviva Inc is a global energy company specializing in sustainable wood bioenergy. It is a producer of sustainable wood pellets, which provide a low-carbon alternative to fossil fuels.
- The Trade: VOXX International Corporation VOXX 10% owner Avalon Park Group Holding AG acquired a total of 25,000 shares at an average price of $7.52. To acquire these shares, it cost around $188 thousand.
- What’s Happening: VOXX International recently posted a Q2 loss of $0.42 per share.
- What VOXX International Does: VOXX International Corp is a manufacturer and supplier of consumer electronic products in the automotive, premium audio, and accessory industries.
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