Insiders Sold Greenidge Generation Holdings At US$1.37, Meanwhile Stock Sits Near US$0.73

Greenidge Generation Holdings Inc.'s (NASDAQ:GREE) stock price has dropped 17% in the previous week, but insiders who sold US$163k in stock over the past year have had less luck. Given that the average selling price of US$1.37 is still lower than the current share price, insiders would probably have been better off keeping their shares.

Although we don't think shareholders should simply follow insider transactions, logic dictates you should pay some attention to whether insiders are buying or selling shares.

The Last 12 Months Of Insider Transactions At Greenidge Generation Holdings

In the last twelve months, the biggest single sale by an insider was when the President, Dale Irwin, sold US$64k worth of shares at a price of US$2.55 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. The silver lining is that this sell-down took place above the latest price (US$0.73). So it may not tell us anything about how insiders feel about the current share price.

In total, Greenidge Generation Holdings insiders sold more than they bought over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

Check out our latest analysis for Greenidge Generation Holdings

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Greenidge Generation Holdings Insiders Are Selling The Stock

Over the last three months, we've seen significant insider selling at Greenidge Generation Holdings. Specifically, insiders ditched US$69k worth of shares in that time, and we didn't record any purchases whatsoever. This may suggest that some insiders think that the shares are not cheap.

Insider Ownership

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Based on our data, Greenidge Generation Holdings insiders have about 3.1% of the stock, worth approximately US$295k. We consider this fairly low insider ownership.

So What Does This Data Suggest About Greenidge Generation Holdings Insiders?

Insiders sold Greenidge Generation Holdings shares recently, but they didn't buy any. And our longer term analysis of insider transactions didn't bring confidence, either. When you consider that most companies have higher levels of insider ownership, we're a little wary. We'd certainly practice some caution before buying! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Greenidge Generation Holdings. Case in point: We've spotted 8 warning signs for Greenidge Generation Holdings you should be aware of, and 5 of these are concerning.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St 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. Simply Wall St has no position in any stocks mentioned.