The trading activities by two corporate insiders last week drew the market’s attention toward Hallador Energy Company (NASDAQ: HNRG). Shares of the producer of steam coal rose 26.4% last week.
Per TipRanks’ Insider Trading tool, HNRG’s shares worth approximately $5.49 million were purchased by the company’s two directors. A pictorial representation of the transactions is provided below:
Last week, Charles Ray Wesley IV, a Director at HNRG, made an informative buy of nearly 108.2 thousand shares of the company for approximately $0.50 million. Also, David John Lubar, a Director with a >10% stake in the company, bought 1.15 million shares for $4.99 million.
In addition to the above-mentioned transactions, the TipRanks Insider Trading tool reveals that shares worth approximately $5.5 million have been purchased by the company’s corporate insiders in the last three months. According to TipRanks, the Insider Confidence Signal is Positive for HNRG.
Performance on TipRanks
Hallador Energy scores an ‘8 out of 10’ from the TipRanks Smart Score Rating system, indicating that the stock has strong potential to outperform the market.
Meanwhile, financial bloggers on TipRanks are 100% Bullish on HNRG, compared with the sector average of 74%.
Further, investors’ sentiment is Very Positive about HNRG, as the number of portfolios with exposure to HNRG stock increased 7% in the last seven days.
Conclusion
The recent buy transactions by the corporate insiders of HNRG hint at the company’s improving top-line prospects through improved production activity, higher prices, gains from buyouts, and positivity in coal markets.
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