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Insiders Now Seeing Red With CSII At New 52-Week Low

By Market News Video Staff, Friday, May 6, 1:08 PM ET
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In trading on Friday, shares of Cardiovascular Systems, Inc (NASDAQ:CSII) touched a new 52-week low of $14.70/share. That's a $29.87 share price drop, or -67.02% decline from the 52-week high of $44.57 set back on 06/25/2021. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for CSII that means the stock would have to gain 203.20% to get back to the 52-week high. For a move like that, Cardiovascular Systems, Inc would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as CSII shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, CSII has seen 5 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
02/07/2022 Martha Goldberg Aronson Director 2,500 $18.43 $46,075.00
02/08/2022 Rhonda J. Robb Chief Operating Officer 1,567 $18.71 $29,326.40
02/08/2022 Scott R. Ward Chairman and CEO 2,500 $18.52 $46,293.00
02/08/2022 Jeffrey S. Points Chief Financial Officer 2,000 $18.20 $36,400.00
02/23/2022 Erik Paulsen Director 500 $19.05 $9,522.55

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where CSII has traded over the past year, with the 50-day and 200-day moving averages included.

Cardiovascular Systems, Inc Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for CSII shares, which are presently showing a last trade of $15.33/share, slightly above the new 52-week low.

This Article's Word Cloud:   Aronson   Bargains   CSII   Cardiovascular   Chairman   Cheaper   Chief   Director   Erik   Financial   Friday   Goldberg   Here   Insider   Insiders   Jeffrey   Large   Martha   Officer   Oftentimes   Operating   Paulsen   Points   Price   Purchased   Systems   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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