Heaving Buying Triggers RSI Cross (RUSHA) Thursday, January 12, 4:53 PM ET, by Market News Video Staff In trading on Thursday, shares of Rush Enterprises Inc. (RUSHA) entered into overbought territory, changing ...
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 November 23, U.S. Auto Parts Network Inc's Director, Sol Khazani, invested $27,580.00 into 7,000 shares of PRTS, for a cost per share of $3.94. 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 Monday, bargain hunters could buy shares of U.S. Auto Parts Network Inc (NASDAQ:PRTS) and achieve a cost basis 1.0% cheaper than Khazani, with shares changing hands as low as $3.90 per share. U.S. Auto Parts Network Inc shares are currently trading up about 5.2% on the day. The chart below shows the one year performance of PRTS shares, versus its 200 day moving average:
Looking at the chart above, PRTS's low point in its 52 week range is $3.53 per share, with $9.97 as the 52 week high point — that compares with a last trade of $4.01. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
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PRTS operates in the Auto Dealerships sector, among companies like Lithia Motors, Inc. (NYSE:LAD) which is up about 9.1% today, and Pep Boys-Manny, Moe & Jack (NYSE:PBY) trading up by about 5.2%. Below is a three month price history chart comparing the stock performance of PRTS, versus LAD and PBY.
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