Insider Buying: Trio Merger Corp. Major Shareholder Purchases 58,000 Shares of Stock (SAEX)
Trio Merger Corp. (NASDAQ:SAEX) major shareholder Jeff Hastings acquired 58,000 shares of Trio Merger Corp. stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average cost of $8.52 per share, with a total value of $494,160.00. Following the acquisition, the insider now directly owns 6,830,064 shares of the company’s stock, valued at approximately $58,192,145. The purchase was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Separately, analysts at Canaccord Genuity cut their price target on shares of Trio Merger Corp. from $11.25 to $10.50 in a research note to investors on Thursday, October 31st.
Shares of Trio Merger Corp. (NASDAQ:SAEX) traded up 0.23% during mid-day trading on Friday, hitting $8.80. The stock had a trading volume of 6,972 shares. Trio Merger Corp. has a 1-year low of $6.60 and a 1-year high of $10.55. The stock has a 50-day moving average of $8.17 and a 200-day moving average of $9.1. The company’s market cap is $118.2 million.
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