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Insiders know their company the best.
So, if they’re buying, there’s often a good reason for it.
Nerdy (NRDY)
Nerdy, which operates live online learning platforms, just saw its CEO Charles Cohn buy 257,210 shares of the stock for just over $273,343.
While the stock has been a disaster for months, it just spiked from about 80 cents to $1.12. Aside from the insider buying, the company did accelerate its AI native platform and implemented sizable cost reductions to help drive productivity and growth.
DraftKings (DKNG)
After pulling back on competitive threats, two DKNG insiders saw the drop as a buy opportunity. In fact, former Metro-Goldwyn Meyer CEO Harry Sloan, who has been on the board of DKNG since early 2020, just bought 25,000 shares for about $30.30 each, or $757,500.
Director Gregory Wendt made his first purchase since joining the board in late October. Wendt bought 10,000 shares for $30.27 each, or a total of $302,700.
Intuitive Machines (LUNR)
After the Intuitive Machines stock slipped from about $14 highs, director Michael Blitzer bought 141,080 shares on November 12 for about $1.3 million. On November 13, he bought 100,000 shares of LUNR for about $883,230.
Helping, analysts at Stifel just initiated coverage of the LUNR stock with a buy rating with an $18 price target. “The firm highlighted Intuitive Machines’ early-mover advantage in the emerging lunar market, noting the company has established advantaged positions in multiple verticals including delivery services and lunar communication,” according to Investing.com.
Analysts at Deutsche Bank upgraded LUNR to a buy rating with a price target of $18, as well. The firm sees an attractive set-up for the next three to six months, supported by clear commercial catalysts. The firm also believes LUNR trades at a sizable discount to its peers.
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Written by Ian Cooper