Directors Trades: Do the directors of this sensor small cap sense good times are ahead?
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Shareholders of DorsaVi (ASX:DVL) had a rollercoaster ride last year. A spectacular ride to the top, followed by a fall.
The stock went from 5c to 10c, but has now retreated to 2.5c.
But a pair of directors reckon it still has potential. Andrew Ronchi bought $100,000 and Michael Panaccio bought $250,000 in a placement.
DorsaVi makes wearable technology which measures human body movements.
While it does serve the fitness market, its products are also aimed at big industrial workplaces, particularly where safety can be an issue like resources and manufacturing. One such client is Heathrow Airport, which only a couple of weeks ago signed another contract with DorsaVi, specifically for its baggage handlers.
Another curious purchase was made by — Alexium International Group’s (ASX:AJX) Rosheen Garnon, who bought $100,000 in a placement.
This is another company that saw a rise then a fall last year. Its business is speciality chemical solutions, particularly for the defence industry. One of its top selling points is that its solutions are flame retardant and environmentally safe.
There were two directors that sold over $100,000 last week. First, Electro Optic Systems’ (ASX:EOS) Ian Denis sold $613,602.
And Bigtincan’s (ASX:BTH) John Scull sold just over $3m.
While neither company gave a reason for the share selldowns, both have seen solid growth in recent months.
Electro Optic Systems, which specialises in defence, space and communications systems, has more than doubled in six months. Its clients include the Australian army, to which it supplies remote weapons systems.
Meanwhile, Bigtincan has nearly doubled and only two weeks ago announced a $6.2m contract that sent shares on a run.