ANV Crosses Critical Technical Indicator Wednesday, April 17, 4:02 PM ET, by Market News Video Staff In trading on Wednesday, shares of Allied Nevada Gold Corp (ANV) entered into oversold territory, ...
The officers and directors of a company tend to have a unique inside view into the business, so when these insiders make purchases, investors are wise to take notice. Presumably the only reason for a company insider to choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. Within the 30 components of the Dow Jones Industrial Average, only ten companies have experienced such buying over the trailing six month period, one of which was Alcoa, Inc. (NYSE:AA), where an investment totaling $38.1K was made by Director Ratan Tata. Click Here to Learn Which Other Nine Dow Components Also Had Recent Insider Buying »
Tata bets big on AA:
Tata's average cost works out to $8.34/share. Shares of Alcoa, Inc. were changing hands at $8.66 at last check, trading up about 0.2% on Thursday. The chart below shows the one year performance of AA shares, versus its 200 day moving average:
Looking at the chart above, AA's low point in its 52 week range is $7.97 per share, with $10.92 as the 52 week high point — that compares with a last trade of $8.66.
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