Insider Buying at 3 Companies Amid Historically Low Insider Buying, Plus Insider Selling at 2 Companies

CEO of Leader in Ocean Wave Power Buys Shares

The man in charge of Ocean Power Technologies Inc. (NASDAQ:OPTT) purchased some shares this week. President and CEO George H. Kirby III snapped up 6,300 shares on Monday at a price of $3.16 per share, lifting his overall holding to 79,550 shares. The CEO purchased shares at prices below the $1-level in the second-half of 2015, which shows some of the progress they have since made, though they are well off their 52-week highs of over $15 reached earlier this year.

The shares of the leader in ocean wave power skyrocketed in July after the company installed its first power-generating buoy designed for commercial use. Ocean Power Technologies Inc. (NASDAQ:OPTT) develops and seeks to commercialize its proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The company’s current PowerBuoy product, the PB3, incorporates a power take-off and onboard system for energy storage and management. The aforementioned deployment was set to demonstrate the commercial potential of the technology for possible applications in powering ocean monitoring stations, offshore oil and natural gas operations, and defense and communications systems. Although the stock has lost a great deal of value since July, Ocean Power shares are still up by 59% year-to-date. Jim Simons’ Renaissance Technologies was the owner of 57,170 shares of Ocean Power Technologies Inc. (NASDAQ:OPTT) at the end of the second quarter.

CEO of Specialty Rental Services Company Buys Shares Before Earnings Release

The most influential executive at General Finance Corporation (NASDAQ:GFN) purchased some shares last week. Ronald F. Valenta, the Chief Executive Officer of General Finance since mid-October 2005, bought 8,000 shares on Friday at a price of $4.25 per share. The shares are held by PV Realty LLC, a California limited liability company over which Mr. Valenta exercises voting and investment control. After the recent acquisition, Mr. Valenta owns 4.47 million shares via the limited liability company.

The specialty rental services company that offers portable storage, modular space and liquid containment solutions has seen its market capitalization increase by 6% since the beginning of the year. Interestingly enough, the aforementioned insider purchase comes shortly before General Finance Corporation (NASDAQ:GFN)’s release of its financial results for the first quarter of its fiscal year 2017 ended September 30. The company is set to release the earnings report on November 7 before the market opens. General Finance Corporation’s revenue for its fiscal 2016 year ended June 30 was $285.9 million, down from $303.8 million reported for its previous fiscal year. Renaissance Technologies had around 25,900 shares of General Finance Corporation (NASDAQ:GFN) in its portfolio at the end of the June quarter.

The final page of this article will discuss fresh insider selling observed at two companies.