Insider Buying: Coates International major shareholder Purchases 12,749,162 Shares of Stock (COTE)
Coates International (NASDAQ:COTE) major shareholder George J. Coates acquired 12,749,162 shares of Coates International stock on the open market in a transaction that occurred on Friday, May 30th. The stock was purchased at an average cost of $0.03 per share, with a total value of $382,474.86. Following the purchase, the insider now directly owns 274,510,787 shares in the company, valued at approximately $8,235,324. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Coates International (NASDAQ:COTE) traded down 3.24% during mid-day trading on Tuesday, hitting $0.0329. 104,000 shares of the company’s stock traded hands. Coates International has a one year low of $0.01 and a one year high of $0.12. The stock’s 50-day moving average is $0.03 and its 200-day moving average is $0.04. The company’s market cap is $12.7 million.
Coates International, Ltd. (NASDAQ:COTE) is a precision engineering company specializing in the development of technologies that evolve the standard combustion engine.
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