Insider Activity: Is Management Buying Synalloy Corporation (NASDAQ:SYNL)?

According to the latest SEC filings, insiders at Synalloy Corporation (NASDAQ:SYNL) have increased their position in the stock by 37.67% over the past 6 months.  Insiders now own 5.50% of total outstanding shares. 

University of Michigan professor and noted insider trading researcher discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the next 12-month period.  When they sold shares, the stock underperformed 5.4%.


Synalloy Corporation (NASDAQ:SYNL) stands -8.60% away from its 50-day simple moving average and also 1.30% away from the 200-day average.  Recently, the equity stands -19.27% away from the 52-week high and 69.21% from the 52-week low.  The RSI (Relative Strength Index), an indicator that shows price strength by comparing upward and downward close-to-close movements is 37.72.


Wall Street analysts on the sell-side covering shares of Synalloy Corporation (NASDAQ:SYNL) have a mean recommendation of 1.00 on the shares.  This is based on a numerical chart where each stock recommendation (Buy,Sell,Hold) is translated into a numerical equivalent.  A low number indicates a Buy and a higher number a Sell.  In terms of where analysts see the stock headed, they have a consensus price target of $11.00  on the shares.

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