ParkerVision (OTCMKTS:PRKR) Stock Soars As Director Plans to Repurchase Shares

This morning most investors are going to be looking into those stocks which may have made big moves yesterday and one of the stocks that will be hard to miss will be that ParkerVision (OTCMKTS:PRKR) stock.

Trading Data

On Wednesday, PRKR stock ended higher by 12.50% to $0.81 with more than 539K shares, compared to its average volume of 69K shares. The stock has moved within a range of $0.6200 – 0.8195 after opening trade at $0.72.

Key Details

On Wednesday, the stock was in significant focus among investors and ended the day with gains of as much as 12%. Yesterday, it emerged that Paul Rosenbaum, who is a director in the company was going to pick up more shares in ParkerVision in order replace the shares that had been sold. It was noted that the move had been undertaken for tax related purposes.

Rosenbaum stated that for personal tax related reasons he was aiming to sell around 100,000 shares in ParkerVision by the end of this year. That being said, he also added that would eventually buy more shares in the company in order to take his holdings to the original levels. In this regard, Rosenbaum noted that he would buy more shares once he is able to do so and as long as the transactions are in line with the insider trading policies at the company. It might be a good time to keep an eye on the stock.

Key Quote

ParkerVision director Paul Rosenbaum stated, “For personal tax purposes, I expect to sell approximately 100,000 shares of my ParkerVision holdings by year-end 2021. However, I plan to increase my ParkerVision holdings back to previous levels once I am able to do so within ParkerVision’s insider trading policy which includes, among other things, limited trading windows and restrictions on open market purchases and sales within a six month period.”

Technical Data

PRKR stock is trading below the 20-Day and 50-Day Moving averages of $0.90 and $1.06 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.22. The stock is down 22% in the past month.