Notable Insider Purchases: Plug Power and Rayonier Advanced Materials
There are various reasons an insider might sell their stock, but a purchase usually signals confidence in future profitability. Here, we spotlight two significant recent insider buys.
Plug Power Insider Activity
On Friday, Plug Power’s CFO and Executive VP, Paul B. Middleton, made a noteworthy investment by purchasing 350,000 shares of PLUG. He acquired these shares at $0.72 each, totaling an investment of $250,390. As of today’s trading session, Middleton saw a gain of about 13.9% at PLUG’s peak, which reached $0.81. However, Plug Power is currently down approximately 4.8% on Wednesday.
Rayonier Advanced Materials Purchase
In a similar move, Rayonier Advanced Materials’ CEO, Delyle W. Bloomquist, also made a substantial purchase on Friday. Bloomquist bought 63,291 shares for $3.95 each, amounting to $249,879. Despite a current decline of around 3.5% for Rayonier Advanced Materials today, Bloomquist’s investment is showing promise with an approximate gain of 7.2%, considering the trading high of $4.23 reached earlier today.
VIDEO: Wednesday 5/21 Insider Buying report: PLUG, RYAM
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
