Boston, MA 09/26/2014 (wallstreetpr) – Combustion Systems company, CLEARSIGN COMBUSTION CORP. (NASDAQ;CLIR) Chairman of the Board, President, and Chief Executive Officer, Richard Rutkowski, has resorted to buying of the company shares to improve his holding. This is fourth insider transactions for acquisition of shares in the last three-month period.
Buys Shares
CLEARSIGN COMBUTION CORP (NASDAQ:CLIR)’s President and the CEO has bought 5,000 shares on September 24 at the rate of $5.36 a share, a Form 4 filed with the Securities and Exchange Commission revealed. He has paid $26,800 to buy the stake.
The purchasing price indicated that he has paid 5.7% premium over the one-year low price of $5.07 and a discount of 61.4% from the 52-week high price of $13.87. As a result of fresh acquisition of shares, Rutkowski’s stake in CLEARSIGN COMBUTION CORP (NASDAQ:CLIR) increased to 171,250 shares, which was valued around $1.09 million based on the price of $6.35 a share.
While this is the first insider trading activity in the current month of September, there were six transactions of insider trading in August, and all the transaction was in relation to either selling or automatic selling of shares.
One-Year Insider Trading
According to a data from Nasdaq, there were ten insider trading activities in the last three-month period. While three transactions were reported for purchase of shares, seven transactions were in relation to unloading of shares. It meant that a total of 3,657 shares were purchased compared to the selling of 52,132 shares in the last three-month period.
Similarly, for the 52-week period, there were seventeen transactions of insider trading activities reported to the regulator. While six transactions belonged to purchase of shares, eleven transactions were reported for selling of shares. As a result, 7,311 shares were acquired by the insiders compared to the unloading of 86,040 shares in the last one-year period. This left the net selling activity of 78,729 shares by the insiders during the last 52-week period.
More selling by the insiders than buying would keep away the investors from the counter till some favorable news emerges from CLEARSIGN COMBUTION CORP (NASDAQ:CLIR).
