Grab Shares Of BAS Cheaper Than The CEO Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on April 2, Basic Energy Services Inc's CEO, Thomas Monroe Patterson, invested $15,129.00 into 2,000 shares of BAS, for a cost per share of $7.56. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Wednesday, bargain hunters could buy shares of Basic Energy Services Inc ( BAS) and achieve a cost basis 1.9% cheaper than Patterson, with shares changing hands as low as $7.42 per share. Basic Energy Services Inc shares are currently trading off about 3.6% on the day. The chart below shows the one year performance of BAS shares, versus its 200 day moving average:

Basic Energy Services Inc Chart

Looking at the chart above, BAS's low point in its 52 week range is $5.00 per share, with $29.84 as the 52 week high point — that compares with a last trade of $7.43. By comparison, below is a table showing the prices at which BAS insider buying was recorded over the last six months:

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