Weekly Insiders #1
Insider purchases, buybacks and M&A - 19/02/23 - 26/02/23
Good morning Micro Investors!
Welcome to Weekly Insiders, a report of the insider movements in the micro cap universe. Insider buys, share buybacks and merge and acquisition transactions are often a sign of management real forecast of company future and can be indicators of special situations.
So this weekly newsletter will be a report of the insider movements from previous week. Quick and actionable.
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This week, from Euronext Access and Growth markets.
Insider purchases
Otovo ASA (OTOVO) - Board member buys $5M in shares. The company engages in the sale, installation and leasing of solar panels in Norway, Sweeden and Italy.
Cool Company Ltd (COOL) - Chairman buys $50M in shares. The company, separated from Golar LNG owns and operates 8 LNG carriers.
Statt Torsk ASA (STATT) - Insider buys $7500 in shares, already owns more than $1M. Company produces and sells farmed cod.
Nordic Halibut AS (NOHAL) - Board member buys $150K in shares. Company farms and sells atlantic halibut.
Pyrum Innovations AG (PYRUM) - Chairman buys $110K in shares from CEO. Company operates waste plants.
MPC Energy Solutions N.V. (MPCES) - Insider buys $1500 in shares. Company operates photovoltaics and wind.
Circa Group AS (CIRCA) - CFO buys $12K in shares. Company transforms biomass in biofuel.
Nordic Technology Group AS (NTG) - Chairman buys $60K in shares. Company produces sensors for oil and gas production.
Buybacks
HAV Group ASA (HAV) - Bought back $26K in stock this week. They have already bought back 10% of the company in LTM and have approved another 10%.
BOA Concept SAS (ALBOA) - Bought back $25K in shares last week (20M Mcap). Company manufactures robotic pick solutions for warehouses.
Inin Group AS (ININ) - Bought back $29K last week, 5% of the company repurchased LTM. Ultrasonic solutions for concrete inspections.
Mergers and Acquisitions
Inin Group AS (ININ) - Received a USD 30 million non-binding offer for the potential sale of wholly-owned subsidiary Elop Technology AS. The full company market cap is $27M.
Inin Group - without Elop Technology, - target a revenue of approximately NOK 540 million and a profitable result in 2023. In addition to the expected organic growth, Inin Group expects to announce further acquisitions in near future.
Objective of the sale is to list Elop Technology in the NASDAQ.
Quantafuel ASA (QFUEL) - Receives takeover bid of 1.06B NOK from Viridor. The company transforms plastic waste in bio fuels. Hardly any revenue and big losses.
Some comments
Insider buys are concentrated on energy (renewables, LNG) and fish farming. Sectors with good growth perspectives, which these purchases seem to confirm. Definitely worth taking a look at micro caps in this sector. Norway could be a cheap market, as many buybacks are taking place there.
Inin Group (ININ) is following a quite interesting pattern, with a sale of a loss making subsidiary for more than the current market cap, this is combined with share buyback from the company.
And that’s a wrap for today! Hope you enjoyed.
See you on the next edition of Weekly Insiders.
Dani