Athabasca insiders bet against the shortsAthabasca Oil Corp (C:ATH)
Shares Issued 530,888,291
Last Close 2/25/2022 $1.88
Monday February 28 2022 - In the News
The Globe and Mail reports in its Saturday, Feb. 26, edition that Athabasca Oil was the 10th most-shorted stock in Canada as of Feb. 15. The Globe's regular guest columnist Ted Dixon writes in the Who Is Buying and Selling column that while shorts may be betting that the price of oil is likely to reverse from here, insiders are taking the opposite side. So far in 2022, Mr. Dixon reports that insiders have spent $482,953 buying shares in the public market. Director John L. Festival was the biggest buyer, picking up 400,000 shares at $1.18 on Jan. 5, 2021,. More recently, an officer bought 7,880 shares at $1.39 on Feb. 14, 2021. The Globe reported on Feb. 21, 2020, and Dec. 23, 2021, that Desjardins Securities analyst Justin rated Athabasca Oil "buy." It was then worth 40 cents and $1.18. The Globe reported on June 19, 2019, and Oct. 9, 2020, that RBC Dominion Securities analyst Luke Davis rated Athabasca Oil "buy" and "sector perform." The shares could then be had for 76 cents and 97 cents. The Globe's guest columnist Phil Dabo recommended buying Athabasca Oil in the Number Cruncher column on Dec. 7, 2021. Mr. Dabo called a recent sell-off excessive. Athabasca Oil was then worth $1.29.