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Bargain Hunters Take Note: Insider Cluster-Buying At AIRS
By Market News Video Staff, Tuesday, November 22, 12:52 PM ET
A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Airsculpt Technologies Inc (NASDAQ:AIRS), 5 different insiders purchased 246,000 shares at an average price of $3.12/share, for a total of $767,550, with the most recent purchase on November 16, 2022.
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. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
Purchased
Insider
Title
Shares
Price/Share
Value
11/15/2022
Dennis Dean
Chief Financial Officer
33,000
$3.00
$99,000.00
11/15/2022
Caroline Chu
Director
30,000
$3.09
$92,700.00
11/15/2022
Kenneth Higgins
Director
15,000
$3.09
$46,350.00
11/15/2022
Aaron Rollins
Chief Executive Officer
150,000
$3.11
$466,500.00
11/16/2022
Thomas J. Aaron
Director
18,000
$3.50
$63,000.00
The chart below shows the one year performance of AIRS shares, versus its 200 day moving average. Note that AIRS's low point in its 52 week range is $2.69 per share, with $18.48 as the 52 week high point — that compares with a last trade of $3.13, with shares currently trading off about 1.3% on the day.
This Article's Word Cloud:AIRSAaronAirsculptBargainsBelowCarolineCheaperChiefDaysDeanDennisDirectorDollarsExecutiveFinancialHigginsInsiderInsidersJoinKennethNoteNovemberOfferOfficerPresumablyPricePurchasedRollinsSevenShareSharesSpecialaverageclusterdifferentinsiderinsidersmakemarketopenpointpurchasessharesharesstockstrongthattheirweekwith
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