The stock market closed higher on Thursday, but a few notable insider trades caught our attention. Insider purchases often indicate strong confidence in a company’s future prospects or a belief that the stock is undervalued. While not the sole factor in making investment decisions, insider buying can provide valuable insight and support a bullish outlook.
Middlefield Banc
Ronald Len Zimmerly Jr., CEO of Middlefield Banc Corp. (MBCN), recently acquired 1,000 shares at an average price of $22.47, spending approximately $22,470. This move comes after the company reported strong quarterly earnings on July 18th, beating analyst estimates with earnings per share of 52 cents, compared to the projected 40 cents. Middlefield Banc is a United States-based bank holding company.
Focus Universal
Edward Shihai Lee, Director of Focus Universal Inc. (FCUV), made a significant purchase, acquiring 1,000,000 shares at an average price of $0.30, totaling $300,000. This purchase occurred shortly before the company announced a $1.2 million registered direct offering of 3.75 million shares at $0.32 per share on September 16th. Focus Universal is a company that develops and manufactures universal smart devices.
These insider trades suggest that both Middlefield Banc and Focus Universal executives have a strong belief in their companies’ future success. Investors seeking potential opportunities may want to consider these companies given the recent positive developments and insider confidence.
