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.
At FuelCell Energy ( FCEL ), a filing with the SEC revealed that on Tuesday, Director John A. Rolls bought 100,000 shares of FCEL, at a cost of $1.88 each, for a total investment of $188,000. FuelCell Energy is trading down about 6.5% on the day Thursday. This purchase marks the first one filed by Rolls in the past twelve months.
And on Wednesday, CFO J. Bryant Kirkland III purchased $38,959 worth of Vector Group ( VGR ), purchasing 1,898 shares at a cost of $20.53 a piece. Vector Group is trading down about 2% on the day Thursday.