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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 Akoustis Technologies Inc (NASDAQ:AKTS), 4 different insiders purchased 1,500,000 shares at an average price of $0.50/share, for a total of $750,000, with the most recent purchase on January 29, 2024.
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
01/29/2024
Arthur Geiss
50,000
$0.50
$25,000.00
01/29/2024
David Aichele
EVP of Business Development
80,000
$0.50
$40,000.00
01/29/2024
Kenneth Boller
CFO
60,000
$0.50
$30,000.00
01/29/2024
Jeffrey B. Shealy
Chief Executive Officer
1,310,000
$0.50
$655,000.00
The chart below shows the one year performance of AKTS shares, versus its 200 day moving average. Note that AKTS's low point in its 52 week range is $0.45 per share, with $4.955 as the 52 week high point — that compares with a last trade of $0.592, with shares currently trading up about 4.7% on the day.
This Article's Word Cloud:AKTSAicheleAkoustisArthurBargainsBelowBollerBusinessCheaperChiefDavidDaysDevelopmentDollarsExecutiveGeissInsiderInsidersJanuaryJeffreyJoinKennethNoteOfferOfficerPresumablyPricePurchasedSevenShareSharesShealyaverageclusterdifferentinsiderinsidersmakemarketopenpointpurchasessharesharesstockstrongthattheirweekwith
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The Importance of Insider Buying
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