An Insider Recently Spent $239K on Shares of Odin Metals Limited (ASX: ODM)

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Investors tracking Odin Metals Limited (ASX: ODM) should be aware that insider Jason Peterson just paid AU$239k for AU$0.016 a share for AU$239k’s worth of the stock. However, the increase in share ownership was relatively marginal, and the purchase itself had little impact on absolute value.

Odin Metals Stock Price

Yahoo Finance data show that Jason Peterson recently made the highest insider purchase in the preceding 12 months, purchasing shares of Odin Metals. Even though the transaction was completed for AU $ 0.025, a significant discount from the most recent price, insider buying is beneficial. 

Because the shares were purchased at a lower price, this specific acquisition doesn’t reveal how insiders feel about the current share price.

We agree that it is encouraging to see company insiders buying stock. Odin Metals’ insiders bought shares in the preceding year but did not sell any. They each spent AU$ 0.016 on average.

But remember that they purchased shares when they were materially below where they are now. 

The likelihood that insiders will be driven to develop a company over the long term increases with the amount of insider control over it. It shows that insiders at Odin Metals own 16% of the company, or AU$ 2.9 million. This level of insider ownership is advantageous, but it is not unique. It unquestionably shows a decent degree of alignment.

According to Yahoo Finance, “It’s certainly positive to see the recent insider purchases. We also take confidence from the longer-term picture of insider transactions. However, we note that the company didn’t make a profit over the last twelve months, which makes us cautious. 

“Insiders likely see value in Odin Metals shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it’s beneficial to identify the risks facing Odin Metals.”

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