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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, Sunnova Energy International's Director, Akbar Mohamed, made a $522,600 buy of NOVA, purchasing 20,000 shares at a cost of $26.13 each. Sunnova Energy International is trading up about 0.9% on the day Wednesday. This buy marks the first one filed by Mohamed in the past year.
And at Barnes & Noble Education, there was insider buying on Tuesday, by Director Zachary Levenick who purchased 67,500 shares at a cost of $6.70 each, for a trade totaling $452,075. Before this latest buy, Levenick bought BNED on 8 other occasions during the past year, for a total cost of $2.08M at an average of $7.86 per share. Barnes & Noble Education is trading up about 2.4% on the day Wednesday. Levenick was up about 4.5% on the buy at the high point of today's trading session, with BNED trading as high as $7.00 in trading on Wednesday.
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