Get An Even Better Deal On PUMP Than Director Blackwell Did

Shutterstock photo

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 7, ProPetro Holding Corp's Director, Pryor Blackwell, invested $205,885.44 into 13,404 shares of PUMP, for a cost per share of $15.36. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of ProPetro Holding Corp (Symbol: PUMP) and achieve a cost basis 8.3% cheaper than Blackwell, with shares changing hands as low as $14.09 per share. ProPetro Holding Corp shares are currently trading trading flat on the day. The chart below shows the one year performance of PUMP shares, versus its 200 day moving average:

ProPetro Holding Corp Chart

Looking at the chart above, PUMP's low point in its 52 week range is $10.84 per share, with $22.88 as the 52 week high point - that compares with a last trade of $14.16. By comparison, below is a table showing the prices at which PUMP insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
06/07/2018 Pryor Blackwell Director 13,404 $15.36 $205,885.44

Click here to find out which 9 other energy stock bargains you can buy cheaper than insiders ยป

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Commodities
Referenced Symbols: PUMP

More from BNK Invest


BNK Invest

BNK Invest

Market News, Investing

Research Brokers before you trade

Want to trade FX?