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 Thursday, Coty's Director, Maria Asunicion Aramburuzabala, made a $5.4M purchase of COTY, buying 500,000 shares at a cost of $10.80 each. Coty is trading down about 0.7% on the day Tuesday. This buy marks the first one filed by Aramburuzabala in the past twelve months.
And at Ascent Solar Technologies, there was insider buying on Thursday, by Chief Executive Officer Paul P. Warley who bought 34,722 shares at a cost of $2.88 each, for a total investment of $99,999. Ascent Solar Technologies is trading off about 5.7% on the day Tuesday. Investors can pick up ASTI even cheaper than Warley did, with the stock trading as low as $1.64 at last check today which is 43.0% below Warley's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.