As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Digirad Corp (NASDAQ:DRAD)'s Director, Charles M. Gillman, made a $20,693 buy of DRAD, purchasing 10,000 shares at a cost of $2.07 each. Digirad Corp is trading down about 0.5% on the day Friday. Before this latest buy, Gillman bought DRAD at 23 other times during the past twelve months, for a total investment of $550,126 at an average of $2.09 per share.
And at Elecsys Corp. (ESYS), there was insider buying on Monday, by Director Stan Gegen who bought 6,585 shares at a cost of $3.03 each, for a trade totaling $19,955. Before this latest buy, Gegen purchased ESYS at 3 other times during the past twelve months, for a total investment of $61,557 at an average of $3.22 per share. Elecsys Corp. is trading off about 0.9% on the day Friday. Gegen was up about 5.6% on the purchase at the high point of today's trading session, with ESYS trading as high as $3.20 in trading on Friday.
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