On September 8, 2023, Leah Schweller, the Chief Financial Officer (CFO) of Charge Enterprises Inc (NASDAQ:CRGE), purchased 30,000 shares of the company’s stock, signaling her confidence in its future prospects. Schweller is a seasoned financial executive responsible for the company’s financial strategy and operations.
Charge Enterprises Inc provides electric vehicle (EV) charging services, telecommunications infrastructure, and power storage solutions. With a market cap of $133.075 million, the company is a key player in the rapidly expanding EV and renewable energy sectors.
Schweller’s recent purchase of 30,000 shares is a significant increase in her holdings and represents her belief in the company’s potential. Over the past year, she has purchased a total of 40,000 shares and has not sold any shares.
Insider transaction history for Charge Enterprises Inc indicates a trend of insider buying over the past year, with 21 insider buys compared to only 4 insider sells. This suggests that insiders, including Schweller, see value in the company’s stock and expect it to perform well in the future.
At the time of Schweller’s purchase, shares of Charge Enterprises Inc were trading for $0.48 apiece, indicating that the stock is reasonably valued considering the company’s market cap. Schweller’s decision to buy at this price reflects her belief that the stock is undervalued and has room for growth.
In conclusion, the recent insider purchase by CFO Leah Schweller highlights her confidence in the future prospects of Charge Enterprises Inc. Investors and market watchers should pay attention to this stock, as insider buying often precedes positive stock price movements.