On September 11, 2023, Director Gary Jacobs made a significant investment in Charge Enterprises Inc (CRGE, Financial), purchasing 5,000 shares of the company. This move is noteworthy and deserves a closer look.
Who is Gary Jacobs?
Gary Jacobs is a key figure at Charge Enterprises Inc, serving as a Director. His role involves making strategic decisions that shape the company's future. His recent purchase of 5,000 shares indicates a strong belief in the company's prospects and aligns his interests with those of the shareholders.
About Charge Enterprises Inc
Charge Enterprises Inc is a company that operates in the telecommunication and infrastructure sectors. It has a unique business model that focuses on connecting people everywhere and advancing the renewable energy movement. The company's operations span across three business lines: Infrastructure (construction, power, and maintenance services), Communications (connecting calls and cross-connecting people), and Energy (electric vehicle charging).
Insider Buying Analysis
Over the past year, Gary Jacobs has purchased a total of 25,000 shares and has not sold any shares. This recent purchase of 5,000 shares is a continuation of his bullish trend.
The insider transaction history for Charge Enterprises Inc shows a total of 23 insider buys over the past year, compared to just 4 insider sells. This suggests a positive sentiment among the insiders about the company's future.
The above chart shows the trend of insider buying and selling activities. It is clear that the insider buying activities have been more frequent than selling, indicating a positive outlook for the company.
Relationship with Stock Price
On the day of the insider's recent buy, shares of Charge Enterprises Inc were trading at $0.56 apiece. This gives the stock a market cap of $144.531 million. The insider's decision to buy at this price suggests that he believes the stock is undervalued and has potential for growth.
It's worth noting that insider buying is generally seen as a positive signal by the market, as insiders have the most up-to-date information about their company's prospects. Therefore, this recent purchase by Gary Jacobs could potentially lead to an increase in the stock price of Charge Enterprises Inc.
In conclusion, the insider's recent purchase of 5,000 shares of Charge Enterprises Inc is a positive signal. It shows his confidence in the company's future and aligns his interests with those of the shareholders. Investors should keep a close eye on Charge Enterprises Inc and consider the insider's actions when making investment decisions.
