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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 August 19, Zoltek Companies Inc's Exec. VP - Wind Energy, Philip L Schell, invested $8,200.00 into 1,000 shares of ZOLT, for a cost per share of $8.20. 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 Tuesday, bargain hunters could buy shares of Zoltek Companies Inc (NASDAQ:ZOLT) and achieve a cost basis 27.6% cheaper than Schell, with shares changing hands as low as $5.94 per share. Zoltek Companies Inc shares are currently trading down about 0.8% on the day. The chart below shows the one year performance of ZOLT shares, versus its 200 day moving average:
Looking at the chart above, ZOLT's low point in its 52 week range is $5.60 per share, with $16.06 as the 52 week high point — that compares with a last trade of $6.08. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
06/10/2011
Michael D Latta
Director
15,000
$10.24
$153,534.81
06/15/2011
David A Purcell
VP-Composite Intermediates
2,000
$10.16
$20,313.98
08/12/2011
David A Purcell
VP - Composite Intermediates
6,500
$7.77
$50,517.00
08/12/2011
Zsolt Rumy
Chair. of the Board, Pres.,CEO
75,000
$7.92
$594,000.00
08/12/2011
Andrew W Whipple
Chief Financial Officer
500
$8.00
$4,000.00
08/12/2011
Michael D Latta
Director
20,000
$7.66
$153,167.00
08/19/2011
Philip L Schell
Exec. VP - Wind Energy
1,000
$8.20
$8,200.00
According to the ETF Finder at ETF Channel, ZOLT makes up 2.69% of the Global Wind Energy Portfolio ETF (PWND) which is trading lower by about 0.1% on the day Tuesday.
ZOLT operates in the Specialty Chemicals sector, among companies like Zep Inc (NYSE:ZEP) which is down about 2% today, and TPC Group, Inc. (TPCG) trading lower by about 1.6%. Below is a three month price history chart comparing the stock performance of ZOLT, versus ZEP and TPCG.
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