Wednesday 3/20 Insider Buying Report: PLUG, PRGX Wednesday, March 20, 10:31 AM ET
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 Monday, Plug Power (PLUG)'s Director, George C. McNamee, made a $233,840 purchase of PLUG, buying 100,000 shares at a cost of $2.34 each. So far McNamee is in the green, up about 12.5% on their purchase based on today's trading high of $2.63. Plug Power is trading up about 1% on the day Wednesday. This purchase marks the first one filed by McNamee in the past twelve months.
And at PRGX Global (PRGX), there was insider buying on Friday, by Director Matthew A. Drapkin who bought 25,000 shares at a cost of $8.42 each, for a trade totaling $210,497. Before this latest buy, Drapkin bought PRGX on 8 other occasions during the past twelve months, for a total investment of $2M at an average of $9.32 per share. PRGX Global is trading trading flat on the day Wednesday. Bargain hunters can buy PRGX even cheaper than Drapkin did, with shares trading as low as $8.12 in trading on Wednesday which is 3.6% below Drapkin's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.
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