Audioboom Group PLC (LON:BOOM)’s share price shot up 10.5% during mid-day trading on Monday following insider buying activity. The company traded as high as GBX 1.50 ($0.02) and last traded at GBX 1.58 ($0.02). 544,482 shares were traded during mid-day trading, an increase of 108% from the average session volume of 261,957 shares. The stock had previously closed at GBX 1.43 ($0.02).
Specifically, insider Michael Tobin acquired 188,508 shares of the business’s stock in a transaction dated Thursday, October 11th. The stock was purchased at an average cost of GBX 1 ($0.01) per share, for a total transaction of £1,885.08 ($2,463.19). Insiders bought a total of 1,614,978 shares of company stock valued at $2,791,448 over the last quarter.
Audioboom Group (LON:BOOM) last issued its earnings results on Thursday, July 19th. The company reported GBX (0.40) (($0.01)) earnings per share for the quarter. Audioboom Group had a negative net margin of 157.95% and a negative return on equity of 183.65%.
Audioboom Group plc operates an audio platform for hosting, distributing and monetizing content. The Company works with approximately 2,400 active broadcasters, content creators and podcasters around the world, and hosts in over 7,400 content channels. The Company’s hosting and distribution platform allows partners to embed, share through social channels and re-syndicate their content.
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