ROMEOVILLE, IL – In a recent series of transactions, R. Janet Whitmore, a director at Nanophase Technologies Corp (OTC:NANX), purchased a significant number of shares in the company, investing a total of $79,550. These purchases occurred over two consecutive days, with prices ranging from $1.55 to $1.60 per share.
On September 23, Whitmore acquired 26,000 shares at $1.59 each, followed by a series of transactions on September 24, where a total of 23,150 shares were bought at $1.60 each, 200 shares at $1.59, and another 550 shares at $1.55. Following these acquisitions, Whitmore now holds a total of 2,003,809 shares of common stock in Nanophase Technologies.
Nanophase Technologies, known for its work in perfumes, cosmetics, and other toilet preparations, has seen its directors actively participate in the market, demonstrating their commitment to the company's future. Whitmore’s recent purchases are a testament to her confidence in the growth and stability of the corporation.
Investors often monitor the buying and selling activities of company insiders as these transactions can provide insights into the executives' perspectives on the company's prospects. Whitmore's role as a director and her decision to increase her stake in Nanophase Technologies may be seen as a positive indicator by the market.
The transactions were made public through the required regulatory filings with the Securities and Exchange Commission. As per the details of the filings, the purchases were made through multiple trades, indicating a strategic approach to increasing her ownership stake.
Nanophase Technologies Corp, incorporated in Delaware and based in Romeoville, Illinois, continues to be a player in the industrial applications and services sector. The recent insider buying activity could draw investor attention as the company progresses through its business endeavors.
In other recent news, Nanophase Technologies Corporation reported strong Q2 2024 earnings and future growth plans. The company's quarterly revenue surged to $13 million, a 32% increase from the previous quarter, and a net income of $900,000 was recorded. Nanophase anticipates its second-half revenue to surpass the first half, potentially exceeding $50 million for the year.
The company's subsidiary, Solésence, is playing a key role in this growth, focusing on expanding its product development and quality teams to increase capacity potential to $100 million in finished products. Nanophase also reported over $50 million in shipped and confirmed sales orders, expecting to double its volume in 2025.
Despite these positive developments, the company's on-time and full (OTIF) performance is below target at less than 50%, indicating challenges in meeting customer demand. Nevertheless, Nanophase maintains a strong pipeline with over $50 million in purchase orders for the rest of 2024 and orders for 2025. The company is also in talks about uplisting to NASDAQ or the American Stock Exchange to increase investment opportunities.
InvestingPro Insights
Nanophase Technologies Corp (OTC:NANX) has been a topic of interest for investors, especially following director R. Janet Whitmore's recent stock purchases. For those looking to delve deeper into the financial health and market performance of the company, InvestingPro provides a wealth of real-time data and analytical tips.
According to InvestingPro, despite a high return over the last year, Nanophase Technologies has not been profitable in the last twelve months. This is reflected in the company's negative P/E ratio of -43.71, which further dips to -61.48 when adjusted for the last twelve months as of Q2 2024. The company's Price / Book multiple stands at a substantial 9.37, indicating that the stock might be trading at a premium compared to its book value.
However, the stock has experienced a large price uptick over the last six months, boasting a 138.77% total return over this period, which aligns with Whitmore’s recent stock purchases and may suggest a bullish outlook from insiders. The company's revenue growth, on a quarterly basis for Q2 2024, increased by 9.89%, showing some positive momentum in its sales. On the other hand, the overall revenue growth for the last twelve months as of Q2 2024 was slightly negative at -0.98%.
InvestingPro Tips highlight that Nanophase Technologies does not pay a dividend to shareholders, which may be relevant for income-focused investors. Moreover, the company has shown a strong return over the last five years, which could be an attractive point for long-term investors.
For those seeking more detailed analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/NANX. These tips can provide further insights into the company's financial health and market performance, supporting investors in making more informed decisions.
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