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| Land This Bargain Energy Stock Even Cheaper Than Vice President Kinney DidBy Energy Stock Channel Staff, Wednesday, June 21, 10:00 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 16, Avista Corp's Vice President, Scott J. Kinney, invested $50,371.34 into 1,257 shares of AVA, for a cost per share of $40.08. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of Avista Corp (NYSE:AVA) and achieve a cost basis 1.3% cheaper than Kinney, with shares changing hands as low as $39.54 per share. Avista Corp shares are currently trading down about 1.1% on the day. The chart below shows the one year performance of AVA shares, versus its 200 day moving average:
Looking at the chart above, AVA's low point in its 52 week range is $35.72 per share, with $45.285 as the 52 week high point — that compares with a last trade of $39.48. By comparison, below is a table showing the prices at which AVA insider buying was recorded over the last six months:
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