Insider Buying Thursday’s Insider Report: CEO invests $1.2-million as this energy stock flirts with oversold territory
Spartan Delta Corp.
Between Dec. 5-8, co-founder, president, chief executive officer and director Fotis Kalantzis invested more than $1.2-million in shares of the company. He acquired a total of 400,000 shares at an average cost per share of approximately $3.03 for an account in which he has control or direction over (Pentek Ventures Corp.). After these purchases, this specific account held 3,400,000 shares.
For the past month, the stock has been flirting around oversold levels. Currently, the relative strength index (RSI) reading is at 32. Generally, an RSI reading at or below 30 reflects an oversold condition.