One independent natural gas and oil player that insiders are buying a huge amount of stock in here is SandRidge Energy (SD), which concentrates on exploration, development and production activities. Insiders are buying this stock into some modest weakness, since shares are down just 10.6% in the last three months.
SandRidge Energy has a market cap of $2.99 billion and an enterprise value of $6.65 billion. This stock trades at a premium valuation, with a trailing price-to-earnings of 697. Its estimated growth rate for this year is 1,500%, and for next year it's pegged at -268.8%. This is not a cash-rich company, since the total cash position on its balance sheet is $673.68 million and its total debt is a whopping $4.31 billion.
A beneficial owner just bought 4,975,000 shares, or about $30.81 million worth of stock, at $6.10 to $6.23 per share. That same beneficial owner also just bought 3,025,000 shares, or about $18.89 million worth of stock, at $6.24 to $6.25 per share.From a technical perspective, SD is currently trending above its 50-day moving average and just below its 200-day moving average, which is neutral trendwise. This stock has been trending sideways for the last few weeks, with shares moving between $5.96 on the downside and $6.99 on the upside. A high-volume move outside of that range will likely lead to the next major trend for shares of SD. If you're bullish on SD, then I would look for long-biased trades if this stock manages to break out back above its 200-day moving average of $6.71 a share and back above resistance at $6.99 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 15.35 million shares. If that breakout triggers soon, then SD will set up to re-test or possibly take out its next major overhead resistance levels at $7.32 to $7.49 a share. Any move above those levels will then put $7.80 to $8.16 into focus for shares of SD. Amyris Another name in renewable energy space that insiders are loading up on here is Amyris (AMRS). This company applies its industrial synthetic biology technology platform to provide alternatives to select petroleum-sourced products used in specialty chemical and transportation fuel markets worldwide. Insiders are buying this stock into weakness, since shares are off by 26% during the last six months.
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