Powerlaw Corp (NASDAQ:PWRL – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 212,806 shares, a growth of 612.9% from the May 31st total of 29,852 shares. Based on an average daily volume of 446,868 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.5% of the shares of the company are short sold.
Powerlaw Price Performance
NASDAQ PWRL opened at $12.98 on Friday. Powerlaw has a 12 month low of $12.77 and a 12 month high of $40.00.
Insider Activity at Powerlaw
In related news, CIO Benjamin David Black purchased 6,500 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $15.47 per share, with a total value of $100,555.00. Following the completion of the acquisition, the executive owned 445,978 shares of the company’s stock, valued at approximately $6,899,279.66. This trade represents a 1.48% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mike John Dinsdale purchased 12,727 shares of Powerlaw stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $15.47 per share, with a total value of $196,886.69. Following the transaction, the chief executive officer owned 686,504 shares of the company’s stock, valued at approximately $10,620,216.88. This represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 22,168 shares of company stock worth $347,027 in the last quarter.
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