A beneficial owner just
bought 72,189 shares, or around $350,000 worth of stock, at $4.84 per share.
From a technical perspective, ALXA is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock recently gapped down from a high of $6.46 to around $4.75 a share with big downside volume. Following that move, shares of ALXA went on to hit a recent low of $4.62 a share, but the stock has now started to rebound and move within range of triggering a near-term breakout trade.
If you're in the bull camp on ALXA, then I would look for long-biased trades as long as it's trending above its 200-day moving average at $4.66, and then once it breaks out above its gap down day high of $5.44 with high volume. Look for a sustained move or close above $5.44 a share with volume that hits near or above its three-month average action of 815,923 shares. If that breakout triggers soon, then ALXA will set up to re-test or possibly take out its recent high of $6.46 a share. Any move above that level will then put $7.60 into focus for shares of ALXA.
Piedmont Natural Gas
The last stock to consider with some decent insider buying is natural gas player
Piedmont Natural Gas
(PNY - Get Report)
, an energy services company whose principal business is the distribution of natural gas to residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. This stock has traded virtually flat during the last six months, with shares down by just 1.2%.
Piedmont Natural Gas has a market cap of $2.32 billion and an enterprise value of $3.60 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 19.31 and a forward price-to-earnings of 17.62. Its estimated growth rate for this year is 4.8%, and for next year it's pegged at 4.6%. This is not a cash-rich company, since the total cash position on its balance sheet is $2.12 million and its total debt is $1.34 billion.
A director just
bought 13,000 shares, or about $398,000 worth of stock, at $30.69 per share.
From a technical perspective, PNY is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strongly for the last month and change, with shares moving higher from a low of $28.24 to its recent high of $32.42 a share. During that uptrend, shares of PNY have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed PNY within range of triggering a near-term breakout trade.