Insiders Buying Empire Petroleum And 2 Other Stocks

Although U.S. stocks closed mostly lower on the first trading day of 2024, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Empire Petroleum

• The Trade: Empire Petroleum Corporation EP Director Benjamin J. Marchive II acquired a total of 2,000 shares an average price of $10.98. To acquire these shares, it cost around $21,951.
• What’s Happening: On Nov. 13, Empire Petroleum Reported product revenue of $10.3 million and a net loss of $2.7 million for the third quarter.
• What Empire Petroleum Does: Empire Petroleum Corp is engaged in the exploration and development of oil and natural gas in the United States.

Astrotech

• The Trade: Astrotech Corporation ASTC Director Robert McFarland acquired a total of 1,221 shares at an average price of $8.19. To acquire these shares, it cost around $10,003.
• What’s Happening: On Nov. 13, Astrotech posted a wider first-quarter loss.
• What Astrotech Does: Astrotech Corp is a science and technology development company. The firm invents, acquires, and commercializes technological innovations sourced from internal research, universities, laboratories, and research institutions.

Don’t forget to check out our premarket coverage here

NB Bancorp

• The Trade: NB Bancorp, Inc. NBBK Director Paul Ayoub bought a total of 5,000 shares at an average price of $14.00. To acquire these shares, it cost around $70,000.
• What’s Happening: The company’s stock has a 52-week trading range of $13.10 - $13.75.
• What NB Bancorp Does: NB Bancorp Inc operates as the holding company of Needham Bank.

Check This Out: Top 5 Consumer Stocks You May Want To Dump This Quarter