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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 November 30, Harris & Harris Group, Inc.'s Chairman, CEO, Douglas W. Jamison, invested $7,100.00 into 2,000 shares of TINY, for a cost per share of $3.55. 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 Thursday, bargain hunters could buy shares of Harris & Harris Group, Inc. (NASDAQ:TINY) and achieve a cost basis even cheaper than Jamison, with shares changing hands as low as $3.53 per share. Harris & Harris Group, Inc. shares are currently trading off about 4.6% on the day. The chart below shows the one year performance of TINY shares, versus its 200 day moving average:
Looking at the chart above, TINY's low point in its 52 week range is $3.17 per share, with $6.30 as the 52 week high point — that compares with a last trade of $3.55. 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
11/30/2011
Douglas W. Jamison
Chairman, CEO
2,000
$3.55
$7,100.00
11/30/2011
Sandra Matrick Forman
General Counsel
1,000
$3.55
$3,548.00
According to the ETF Finder at ETF Channel, TINY makes up 11.50% of the Lux Nanotech Portfolio ETF (AMEX:PXN) which is trading lower by about 3.6% on the day Thursday.
TINY operates in the Business Services & Equipment sector, among companies like Lender Processing Services Inc (NYSE:LPS) which is off about 3% today, and CoStar Group, Inc. (NASDAQ:CSGP) trading lower by about 0.8%. Below is a three month price history chart comparing the stock performance of TINY, versus LPS and CSGP.
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