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.
On Wednesday, Wrap Technologies' Director, John D. Shulman, made a $110,000 buy of WRAP, purchasing 100,000 shares at a cost of $1.10 a piece. Shulman was up about 122.3% on the purchase at the high point of today's trading session, with WRAP trading as high as $2.44 in trading on Friday. Wrap Technologies is trading up about 2.5% on the day Friday. This buy marks the first one filed by Shulman in the past twelve months.
And also on Wednesday, Director Bruce D. Hansen purchased $50,780 worth of Energy Fuels, purchasing 4,000 shares at a cost of $12.70 a piece. Energy Fuels Inc is trading up about 1.6% on the day Friday. So far Hansen is in the green, up about 12.1% on their buy based on today's trading high of $14.23.
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