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Fisker stock snapped up by CEO after short report: Insider trades for the week
Fisker's chief executive, in a show of confidence, picked up another quarter-million dollars' worth of company shares on the heels of a recent short report. Here are all of this past week's biggest insider trades, as first reported on InvestingPro+.
Fisker Inc (NYSE:FSR) CEO, Henrik Fisker, bought 33,700 shares on 12/05/22 at $7.4177. The value of the purchase was about $250,000. After the purchase, Fisker directly owned 629,218 and another 229,000 indirectly.
The buy follows a report by short seller Fuzzy Panda Research that claimed the EV company didn’t disclose limits on its cash balance. Citing unnamed former employees, Fuzzy Panda said a “vast majority” of the $825 million in cash Fisker reported at the end of the third quarter is tied up in undisclosed bank guarantees to protect Magna Steyr, the contractor building its vehicles. Fisker called the claims untrue, saying in a statement that “Magna does not have a bank guarantee.”
Shares slipped 3.2% for the week.
G-III Apparel Group (NASDAQ:GIII) CEO, Morris Goldfarb, bought 250,000 shares on 12/05/22 at $12.54, sending the stock higher. The value of the purchase was over $3.1 million.
In the prior week, KeyBanc lowered its G-III price target to $17 from the prior $27, and following the purchase Barclays lowered it to $13 from $18. G-III shares gained 7% for the week to $13.40.
Topgolf Callaway Brands (NYSE:MODG) saw a couple of insider buys:
- CEO, Oliver Brewer, bought 10,000 shares on 12/05/22 at $21.29-$21.88
- CFO, Brian Lynch, buys 10,000 shares on 12/05/22 at $21.6422
Shares ticked up fractionally for the week.
Comscore Inc (NASDAQ:SCOR) Director, William Paul Livek, bought 50,000 shares on 12/08/22 at $1.17. Shares lost 12.5% for the week.
Six Flags (NYSE:SIX) Entertainment CFO, Gary Mick, bought 9,500 shares from 12/09/22-12/07/22 at prices from $21.16-$22.28. Shares were off 9.5% for the week.
Stryve Foods Inc (NASDAQ:SNAX) CEO, Christopher Boever, bought 88,316 shares on 12/02/22 at $0.86. Shares slid 11.9% for the week.
Michael Elkins contributed to this report.
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