American Shared Hospital Services (NYSE:AMS) shares jumped 16.31% in pre-market trading to $1.64 on Thursday, following an insider purchase disclosed in a Securities and Exchange Commission filing.
Insider Activity
Executive Chairman Raymond C. Stachowiak acquired 586,468 shares of the California-based healthcare company at $2.28 per share in a private transaction on Monday, representing a roughly $1.34 million buy. The purchase was made through his entity, RCS/TIG Holdings LLC.
Following the transaction, Stachowiak’s beneficial ownership includes 752,500 shares held through RCS Investments, Inc. and 760,559 shares held through Stachowiak Equity Fund LLC, among other investment vehicles.
Benzinga’s Take: For value-oriented investors, open-market and private share purchases by executives at prices above the current market level can signal confidence in near-term catalysts or the stock’s valuation.
Trading Metrics, Technical Analysis
American Shared has a market capitalization of $9.34 million. The stock has traded between a 52-week high of $3.11 and a 52-week low of $1.26.
Short interest stands at 3.60%, suggesting minimal bearish conviction heading into the insider-driven pre-market rally.
Volume on Wednesday spiked well past usual levels. Volume for the day surged to 2.05 million shares, approximately 14.5 times the stock’s average daily volume of 141,390 shares, indicating exceptionally strong trading activity.
The stock has a Relative Strength Index (RSI) of 46.63.
Over the past 12 months, AMS has dropped 41.25%.
The small-cap stock is currently trading close to its annual low.
Benzinga’s Edge Stock Rankings indicate that AMS has a negative price trend across all time frames.
Photo courtesy: Zakharchuk / Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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