The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would 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. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $1000K by Gregory A. Beard, Chief Executive Officer at Stronghold Digital Mining Inc - Class A (NASDAQ:SDIG).
Beard bets big on SDIG:
Purchased
Insider
Title
Shares
Price/Share
Value
09/19/2022
Gregory A. Beard
Chief Executive Officer
602,409
$1.66
$999,998.94
Beard's average cost works out to $1.66/share. In trading on Thursday, bargain hunters could buy shares of Stronghold Digital Mining Inc - Class A (NASDAQ:SDIG) and achieve a cost basis lower than Beard, with shares changing hands as low as $1.10 per share. Shares of Stronghold Digital Mining Inc - Class A were changing hands at $1.08 at last check, trading trading flat on Thursday. The chart below shows the one year performance of SDIG shares, versus its 200 day moving average:
Looking at the chart above, SDIG's low point in its 52 week range is $1.085 per share, with $35.795 as the 52 week high point — that compares with a last trade of $1.08.
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