Shares of Houston Wire & Cable (NASDAQ:HWCC) shot up 12% on Wednesday following insider buying activity. The stock traded as high as $2.13 and last traded at $1.96, 133,279 shares were traded during mid-day trading. An increase of 132% from the average session volume of 57,569 shares. The stock had previously closed at $1.75.
Specifically, Director Roy W. Haley bought 13,427 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The shares were acquired at an average price of $1.98 per share, for a total transaction of $26,585.46. Following the completion of the acquisition, the director now owns 302,900 shares of the company’s stock, valued at approximately $599,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roy W. Haley purchased 49,000 shares of Houston Wire & Cable stock in a transaction that occurred on Monday, March 23rd. The shares were bought at an average cost of $1.75 per share, with a total value of $85,750.00. Following the completion of the transaction, the director now directly owns 587,883 shares of the company’s stock, valued at approximately $1,028,795.25. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 76,227 shares of company stock valued at $142,310. 6.20% of the stock is owned by insiders.
The stock has a market cap of $33.68 million, a price-to-earnings ratio of 12.50 and a beta of 1.59. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.61 and a current ratio of 4.47. The company has a 50-day simple moving average of $3.16 and a two-hundred day simple moving average of $3.94.
About Houston Wire & Cable (NASDAQ:HWCC)
Houston Wire & Cable Company, through its subsidiaries, sells electrical and mechanical wire and cable, industrial fasteners, hardware, and related services in the United States. It offers wire and cable products, including continuous and interlocked armor cables; control and power cables; electronic wires and cables; flexible and portable cords; instrumentation and thermocouple cables; lead and high temperature cables; medium voltage cables; and premise and category wires and cables, primary and secondary aluminum distribution cables, and steel wire ropes and wire rope slings, as well as synthetic fiber rope slings, chains, shackles, and other related hardware and corrosion resistant products.
Further Reading: 52- Week Highs
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