Paul Sykes, the Chief Financial Officer of SpringBig Holdings, Inc. (NASDAQ:SBIG), recently acquired 15,000 shares of the company's common stock. The shares were purchased on November 15 at a price of $0.06 each, totaling $900. Following this transaction, Sykes holds a total of 550,350 shares directly. This purchase reflects a continued investment in SpringBig Holdings, a company known for its services in the computer programming sector.
InvestingPro Insights
Paul Sykes' recent acquisition of SpringBig Holdings, Inc. (NASDAQ:SBIG) shares at $0.06 each comes at a time when the company's stock is trading near its 52-week low. According to InvestingPro data, SBIG's stock price is currently at 35% of its 52-week high, indicating a significant decline in value over the past year.
Despite the CFO's show of confidence through his purchase, InvestingPro Tips highlight some challenges facing the company. One tip notes that SpringBig "suffers from weak gross profit margins," which could be a concern for potential investors. This is particularly interesting given that the company's gross profit margin for the last twelve months as of Q3 2023 stands at 70.65%, suggesting that other factors may be impacting overall profitability.
Another InvestingPro Tip points out that the stock "generally trades with low price volatility." This characteristic might appeal to certain investors looking for stability, even in a declining market. However, it's worth noting that SBIG has experienced a significant price decline, with a one-year price total return of -53.33% as of the latest data.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics that could provide deeper insights into SpringBig's financial health and market position. These insights could be particularly valuable given the company's current market capitalization of $3.71 million and its negative P/E ratio, which suggests ongoing profitability challenges.
Paul Sykes, the Chief Financial Officer of SpringBig Holdings, Inc. (NASDAQ:SBIG), recently acquired 15,000 shares of the company's common stock. The shares were purchased on November 15 at a price of $0.06 each, totaling $900. Following this transaction, Sykes holds a total of 550,350 shares directly. This purchase reflects a continued investment in SpringBig Holdings, a company known for its services in the computer programming sector.
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