Around $2.4M Bet On HighPeak Energy? Check Out These 4 Stocks Insiders Are Buying

Author: Avi Kapoor | January 02, 2024 10:00am

Although U.S. stocks closed lower on Friday, 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.

Lovesac

• The Trade: The Lovesac Company (NASDAQ:LOVE) Director Andrew R Heyer acquired a total of 9,100 shares an average price of $26.00. To acquire these shares, it cost around $236,594.
• What’s Happening: Lovesac, last month, posted better-than-expected quarterly sales.
• What Lovesac Does: The Lovesac Co designs, manufactures and sells alternative furniture which is comprised of modular couches called sactionals and premium foam beanbag chairs called sacs.

KalVista Pharmaceuticals

• The Trade: KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) 10% owner Nimish Shah acquired a total of 519,017 shares at an average price of $12.46. To acquire these shares, it cost around $6.47 million.
• What’s Happening: KalVista Pharma recently announced publication of first oral factor XIIa data in Frontiers in Pharmacology.
• What KalVista Pharmaceuticals Does: KalVista Pharmaceuticals Inc is a pharmaceutical company, which focuses on the discovery, development, and commercialization of small molecule protease inhibitors for a range of diseases.

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HighPeak Energy

• The Trade: HighPeak Energy, Inc (NASDAQ:HPK) CEO Jack Hightower bought a total of 164,030 shares at an average price of $14.77. To acquire these shares, it cost around $2.42 million.
• What’s Happening: HighPeak Energy, during November, posted downbeat quarterly earnings.
• What HighPeak Energy Does: HighPeak Energy Inc is an independent oil and natural gas company focused on the development of unconventional oil and natural gas reserves in primarily Howard County of the Midland Basin.

Steel Connect

• The Trade: Steel Connect, Inc. (NASDAQ:STCN) 10% owner WF Asset Corp. bought a total of 8,484 shares at an average price of $9.34. The insider spent around 79,277 to buy those shares.
• What’s Happening: Steel Connect, last month, reported a decline in quarterly sales.
• What Steel Connect Does: Steel Connect Inc is a diversified holding company. The company's operating segment include Direct Marketing and Supply Chain.

 

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Posted In: HPK KALV LOVE STCN