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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Sonim Technologies' Chief Executive Officer, Hao Peter Liu, made a $800,000 purchase of SONM, buying 952,381 shares at a cost of $0.84 each. Bargain hunters are able to buy SONM at a price even lower than Liu did, with the stock changing hands as low as $0.70 at last check today -- that's 16.4% under Liu's purchase price. Sonim Technologies is trading up about 21.6% on the day Friday.
And also on Wednesday, CEO Patrick M. Lavelle bought $256,892 worth of Voxx International, buying 40,000 shares at a cost of $6.42 each. Before this latest buy, Lavelle purchased VOXX at 3 other times during the past year, for a total cost of $39,795 at an average of $7.96 per share. Voxx International is trading up about 9.4% on the day Friday. Lavelle was up about 12.1% on the buy at the high point of today's trading session, with VOXX trading as high as $7.20 in trading on Friday.
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