Blue Star (NASDAQ:BSFC) Insiders Buy Stock – Blue Star Foods (NASDAQ:BSFC)

An indicator of the future direction of a company’s stock can be understood by what insiders may think of the company’s current stock price and near-term future prospects. Insiders are considered C-Suite executives, a member of the board of directors and any person (person or company) who owns more than 10.0% of the outstanding shares of a company.

When insiders are buying, it’s a possible clue as to what the people who know the company best think about the price today versus future news flow or operating performance over the next couple of quarters. Cheap stock prices and exciting news sometimes equal insider buying.

Insider Buying at Blue Star Foods Corp. BSFC

Since July 2022, according to SEC reports, specifically a search for parties filing Forms 4, 3 of the independent directors of Blue Star Foods Corp. BSFC have executed common stock purchase transactions on the open market, of which 2 of these directors have purchased shares in the past 2 weeks. Nearly half (3 out of 7) of the board of directors buys company shares.

Why is insider buying an important indicator?

In the last 30 days, of the 6,625 companies listed on the NYSE, NASDAQ and NYSE American, only 227 filed SEC 4 forms for the sole purpose of disclosing the purchase of stock on the open market by initiates.

There are several companies like IMARA Inc. IMRACabaletta Bio, Inc. CABATango Therapeutics, Inc. TNGXDICE Therapeutics, Inc. OFMacroGenics, Inc. MGNXTexas Pacific Land Corporation DPTESSA Pharma Inc. EPIXMayville Engineering Company, Inc. DUDEJupiter Wellness, Inc. JUPWand Riley Permian Exploration, Inc. REPX which are up more than 30% in the past 60 days, possibly as a result of insider buying.

















SEC Form S4 Insider Buying and Stock Performance (last 30 days) as of 11/08/2022


Company Name


Transaction Type


Market capitalization


Market capitalization


Performance


Industry


Subsector


Stock symbol


Last 30 days


09/07/2022


11/07/2022


last 60 days


Band


Classification


IMARA inc. IMRA


Insider buying


$52.8


$117.2


+121.9%


Health care


Medications


Cabaletta Bio, Inc. CABA


Insider buying


$29.3


$63.3


+115.8%


Health care


Biotechnology


Tango Therapeutics, Inc. TNGX


Insider buying


$316.8


$683.4


+115.7%


Health care


Biotechnology


DICE Therapeutics, Inc. OF


Insider buying


$803.2


$1,441.2


+79.4%


Health care


Medications


MacroGenics, Inc. MGNX


Insider buying


$260.0


$394.7


+51.8%


Health care


Biotechnology


Texas Pacific Land Corporation DPT


Insider buying


$14,166.6


$20,918.2


+47.7%


Energy


Oil & Gas E&P


ESSA Pharma Inc. EPIX


Insider buying


$102.2


$144.6


+41.4%


Health care


Biotechnology


Mayville Engineering Society DUDE


Insider buying


$140.6


$195.5


+39.0%


Industrial


Machinery


Jupiter Wellness, Inc. JUPW


Insider buying


$16.9


$23.2


+37.3%


Staples


Personal products


Riley Exploration Permian REPX


Insider buying


$471.6


$633.9


+34.4%


Energy


Oil & Gas E&P

Source: S&P Capital IQ (as of 11/08/2022)

All market caps in millions of USD

Many of these companies have not had major investments from strategic institutions, nor major development. Some of the upside performance could be attributed to the market taking insider buying as an indicator to buy to get involved.

How could this affect Blue Star?

As of November 8, 2022, the company is trading at $0.90 per share, which is up from the 52-week low of 0.61 cents per share. Meanwhile, the company just had its first major equity research sponsored by an investment bank from Roth Capital, which started with a stock price of $3.00 – https://www. benzinga.com/news/22/11/29543588/roth-capital-lance-la-couverture-sur-blue-star-foods-with-buy-rating-announces-price-target-of-3 — it does not mean that the stock is going to rise for sure, but traders may want to keep their eyes on indicators like this and see what happens next.

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