Have Insiders Been Buying iMining Blockchain and Cryptocurrency Inc. (CVE:IMIN) Shares?
We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So before you buy or sell iMining Blockchain and Cryptocurrency Inc. (CVE:IMIN), you may well want to know whether insiders have been buying or selling.
What Is Insider Buying?
Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock on the market. However, rules govern insider transactions, and certain disclosures are required.
We don't think shareholders should simply follow insider transactions. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Colombia University study found that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'.
View our latest analysis for iMining Blockchain and Cryptocurrency
iMining Blockchain and Cryptocurrency Insider Transactions Over The Last Year
President Robert Eadie made the biggest insider purchase in the last 12 months. That single transaction was for CA$297k worth of shares at a price of CA$0.17 each. So it's clear an insider wanted to buy, even at a higher price. It's very possible they regret the purchase, but it's more likely they are bullish about the company. It's not at all bad to see insiders buy shares at or above current prices.
Happily, we note that in the last year insiders bought 1.81m shares for a total of CA$299k. In total, iMining Blockchain and Cryptocurrency insiders bought more than they sold over the last year. They paid about CA$0.17 on average. These transactions suggest that insiders have considered the current price of CA$0.05 attractive. You can see a visual depiction of insider transactions over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
I will like iMining Blockchain and Cryptocurrency better if I see some big insider buys. While we wait, check out this freelist of growing companies with considerable, recent, insider buying.
Does iMining Blockchain and Cryptocurrency Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Insiders own 31% of iMining Blockchain and Cryptocurrency shares, worth about CA$337k. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The iMining Blockchain and Cryptocurrency Insider Transactions Indicate?
The fact that there have been no iMining Blockchain and Cryptocurrency insider transactions recently certainly doesn't bother us. But insiders have shown more of an appetite for the stock, over the last year. Overall we don't see anything to make us think iMining Blockchain and Cryptocurrency insiders are doubting the company, and they do own shares. To put this in context, take a look at how a company has performed in the past. You can access this detailed graph of past earnings, revenue and cash flow .
But note: iMining Blockchain and Cryptocurrency may not be the best stock to buy. So take a peek at this freelist of interesting companies with high ROE and low debt.
To help readers see past the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price-sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned. For errors that warrant correction please contact the editor at editorial-team@simplywallst.com.
Simply Wall St analyst Simply Wall St and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
About TSXV:IMIN.H
iMining Technologies
An Web3.0 technology company, develops energy and technologies solutions in Canada.
Slight with weak fundamentals.