Around $2M Bet On This Industrial Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.

Northern Technologies International

• The Trade: Northern Technologies International Corporation (NASDAQ:NTIC) Director Sarah E. Kemp acquired a total of 1,275 shares at  an average price of $15.70. To acquire these shares, it cost around $20,018.
• What's Happening: On April 11, Northern Technologies International reported better-than-expected second-quarter adjusted EPS results.
• What Northern Technologies International Does: Northern Technologies International Corp, or NTIC is a United States-based firm that develops and markets environmentally beneficial products and services world-wide either directly or through a network of joint ventures, distributors, and agents.

Harrow

• The Trade: Harrow, Inc. (NASDAQ:HROW) 10% owner Opaleye Management Inc. acquired a total of 20,000 shares at an average price of $10.23. To acquire these shares, it cost around $204,640.
• What's Happening: On April 11, Craig-Hallum initiated coverage on Harrow with a Buy rating and announced a price target of $24.
• What Harrow Does: Harrow Inc is an eyecare pharmaceutical company engaged in the discovery, development, and commercialization of ophthalmic pharmaceutical products for the U.S. market.

Don’t forget to check out our premarket coverage here

RXO

• The Trade: RXO, Inc. (NYSE:RXO) 10% owner Farhad Nanji bought a total of 100,000 shares at an average price of $19.82. To acquire these shares, it cost around $1.98 million.
• What's Happening: RXO said it will issue its first-quarter financial results before the opening bell on May 2, 2024.
• What RXO Does: RXO Inc is a brokered transportation platform defined by cutting-edge technology and a nimble, asset-light business model, with the largest component being core truck brokerage business.

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