Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Dynatronics Corp. (NASDAQ:DYNT), a filing with the SEC revealed that on Thursday, Director Erin S. Enright purchased 398,010 shares of DYNT, for a cost of $2.50 each, for a total investment of $995,025. So far Enright is in the green, up about 10.0% on their buy based on today's trading high of $2.75. Dynatronics Corp. is trading up about 7% on the day Monday.
And on Wednesday, Spa Essetifin bought $622,241 worth of Soligenix (NASDAQ:SNGX), buying 293,510 shares at a cost of $2.12 each. This buy marks the first one filed by Essetifin in the past year. Soligenix is trading up about 1% on the day Monday. Investors are able to snag SNGX at a price even lower than Essetifin did, with the stock changing hands as low as $2.07 at last check today which is 2.4% below Essetifin's purchase price.
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