Over $11M Bet On STAAR Surgical? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower on Thursday, 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.

Riley Exploration Permian

• The Trade: Riley Exploration Permian, Inc. REPX 10% owner Balmon California Inc acquired a total of 100,000 shares an average price of $30.25. To acquire these shares, it cost around $3.02 million.
• What’s Happening: Riley Exploration Permian posted downbeat quarterly earnings.
• What Riley Exploration Permian Does: Riley Exploration Permian Inc is engaged in the business of exploration for and production of oil and natural gas.

HighPeak Energy

• The Trade: HighPeak Energy, Inc. HPK CEO Jack Hightower acquired a total of 500,000 shares at an average price of $16.57. To acquire these shares, it cost around $8.28 million. The company’s President also bought shares.
• What’s Happening: HighPeak Energy said third-quarter production has continued to average over 50,000 boe per day in line with its expectation.
• What HighPeak Energy Does: HighPeak Energy Inc is an independent oil and natural gas company focused on the development of unconventional oil and natural gas reserves in primarily Howard County of the Midland Basin.

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STAAR Surgical

• The Trade: STAAR Surgical Company STAA 10% owner Neal Bradsher bought a total of 291,383 shares at an average price of $40.12. To acquire these shares, it cost around $11.69 million.
• What’s Happening: STAAR Surgical Company's second-quarter sales reached $92.3 million, up 14% Y/Y, driven by ICL sales growth of 19% and ICL unit growth of 21%, missing the consensus of $93.04 million.
• What STAAR Surgical Does: Staar Surgical Co is a manufacturer of lenses. It designs, develops, manufactures, and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye.

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