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CalAmp Stock Rises as Corporate Insiders Go on a Buying Spree
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CalAmp Stock Rises as Corporate Insiders Go on a Buying Spree

Story Highlights

Corporate insiders are seen loading up on CAMP stock when its upside potential is over 180%. 

CalAmp Corp. (NASDAQ: CAMP) has witnessed multiple insider trading transactions, worth $1.62 million, in the last 15 days. The latest informative buy transaction was conducted by B. Riley Asset Management, LLC, a Director of the company.

Shares of the IoT solutions provider rose 1.4% on Tuesday. The last closing price of the company’s stock was $4.31.

Details of Transactions

B. Riley Asset Management bought 106,900 shares of CalAmp for $4.14 per share this week, as per TipRanks, which also provides a comprehensive list of daily insider transactions. The total value of the transaction was $442.57 thousand.

Last week, this insider lapped up CAMP shares worth $1 million. B. Riley Asset Management now holds $7.4 million worth of CAMP stock.

Various corporate insiders have bought the company’s shares a total of five times in the last 15 days. A pictorial snapshot of the same is provided below:

Further, corporate insiders have purchased CAMP shares worth $1.6 million in the last three months.

Interestingly, TipRanks also provides a list of hot stocks that boasts of either a Very Positive or Positive insider confidence signal.

Solid Upside Potential

On TipRanks, the company has a Moderate Buy consensus rating based on two Buys. CAMP’s average price target of $12 mirrors an upside potential of 183% from the current level. Over the past year, shares of CAMP have declined 65.5%.

On June 24, 2022, Scott W. Searle of Roth Capital reiterated a Buy rating on CAMP while lowering its price target to $13 (201.62% upside potential) from $13.50.

Key Takeaways

The abovementioned trading activities suggest that corporate insiders are increasing their exposure to CAMP stock by using the low share price as a good entry point. Investors interested in leveraging the company’s growth prospects could follow suit.

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