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Another name that insiders are loading up on here is intelligent energy management provider
Comverge(COMV). Insiders are snapping up shares in COMV into some big-time strength since the stock is up over 40% so far in 2012.
Comverge has a market cap of $44 million and an enterprise value of $48 million. This stock trades at a rich valuation, with a forward price-to-earnings of 58.67. Its estimated growth rate for this year is 32.7%, and for next year it's pegged at 108.60%. This is not a cash-rich company, since the total cash position on its balance sheet is $23.64 million and its total debt is $26.25 million.
A beneficial owner just
bought 430,100 shares, or $744,000 worth of stock, at $1.73 per share.
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From a technical perspective, COMV is currently trading right below its 200-day moving average and above its 50-day moving average, which is neutral trendwise. This stock ran up big since the start of 2012 from $1.11 to a recent high of $1.99 a share. During that run, the stock made mostly higher lows and higher highs, which is bullish technical price action. That said, COMV just ran into overhead resistance near $1.95 to $1.99 a share, and it has broken back below its 200-day moving average.
If you're a bull on COMV, then I would look for long-biased trades once it breaks back above its 200-day moving average of $1.82 with strong volume. Look for volume on that move that's near or well above its three-month average action of 249,760 shares. If we get that action soon, then I would add to any long positions once CMOV breaks out above $1.95 to $1.99 a share with high-volume. Target a run up to its next major overhead resistance level at $2.50 if that breakout triggers soon.
I would simply avoid any long trades in COMV if the stock fails to get back above its 200-day and take out $1.95 to $1.99 a share with high-volume. If you buy this stock off weakness, then keep in mind that the nearest major support level is at $1.70 to $1.59 (its50-day) a share. Any high-volume moves below those levels should be considered very bearish in the short-term.