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 Friday, EOS Energy Enterprises' Chief Executive Officer, Joe Mastrangelo, made a $69,574 purchase of EOSE, buying 31,199 shares at a cost of $2.23 each. Mastrangelo was up about 9.2% on the buy at the high point of today's trading session, with EOSE trading as high as $2.44 in trading on Tuesday. EOS Energy Enterprises is trading down about 4.5% on the day Tuesday. Before this latest buy, Mastrangelo made one other purchase in the past twelve months, buying $74,744 shares for a cost of $1.15 a piece.
And on Thursday, Director Morris A. Davis bought $49,991 worth of AGNC Investment, buying 4,772 shares at a cost of $10.48 a piece. This buy marks the first one filed by Davis in the past twelve months. AGNC Investment is trading down about 0.2% on the day Tuesday. Bargain hunters are able to snag AGNC even cheaper than Davis did, with shares trading as low as $10.12 at last check today which is 3.4% below Davis's purchase price.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
