Boston, MA 08/14/2014 (wallstreetpr) – In-vitro diagnostic company, TearLab Corp (NASDAQ:TEAR) and Barnwell Industries, Inc. (NYSEMKT:BRN), which has an interest in oil and gas, contract drilling, land investment, and residential real estate, insiders have resorted to buying their respective companies shares on August 12 and 13.
Insider Buys Stock
TearLab Corp (NASDAQ:TEAR) chairman and CEO Vamvakas Elias had acquired 70K shares on August 12 from the open market, a filing by the company with the Securities and Exchange Commission revealed. He had paid $3.43 a share on average for a total cost of about $240K. Given the stock’s high and low prices of $13.78 and $3.30 respectively, there is every chance that the CEO would have thought that the stock was available at a throw away price since he had paid just 13 cents a share more than the 52-week low price.
The current purchase of 70K shares in the company takes his total holding to 271,404 shares as on August 13. At the closing price of $3.41 on Wednesday’s regular trading session, the CEO’s holding is valued at about $925.5K.
Barnwell Insider’s Buy
Similarly, Barnwell Industries president and COO Kinzler Alexander had acquired 2K shares at an average price of $2.98 from the open market on August 13; the company disclosed this in a filing with the SEC. The stock had a high of $3.65 and a low of $2.75 during the one-year period. The transaction was valued $5.9K only.
The selling price indicated that he had purchased the shares by paying 8.4% more from the company’s 52-week low price. However, it had paid 18.4% lower than the year high price of $3.65.
The latest purchase of 2K shares has taken the total number of shares to 307K for the chairman. The CEO’s holding is worth about $621K.
Stock Price
The purchase of shares by the respective CEOs does indicate that they seemed to have been bullish on the counter and that the stock had suffered selling pressure from bears cartel in the recent past, especially in the case of TearLab Corp (NASDAQ:TEAR).
