5 Stocks With Big Insider Buying
A director and beneficial owner bought 19,197,432 shares, or about $13.43 million worth of stock, at 70 cents per share. Another beneficial owner also just bought 18,520,748 shares, or about $12.96 million worth of stock, at 70 cents per share.
From a technical perspective, HMPR is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock has been destroyed by the sellers during the last two months, with shares plunging from over $3.50 a share to a recent low of $1.09 a share with heavy volume. During that massive move lower, shares of HMPR consistently made lower highs and lower lows, which is bearish technical price action. That said, during the last month, shares of HMPR have started to trend sideways between $1.09 on the downside and $1.32 on the upside. A move outside of that range will likely setup the next major trend for HMPR.
If you're bullish on HMPR, then I would look for long-biased trades once this stock triggers a break out above some near-term resistance at $1.27 to $1.32 a share with high-volume. Look for volume on that move that hits near or above its three-month average action of 78,862 shares. If we get that move soon, then HMPR could easily skyrocket back towards $2 to $2.45 a share.