Equities research analysts at Stifel Nicolaus initiated coverage on shares of Powerlaw (NASDAQ:PWRL – Get Free Report) in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage set a “buy” rating on the stock.
Powerlaw Trading Up 1.3%
PWRL traded up $0.15 during trading on Monday, hitting $12.05. 106,425 shares of the company’s stock traded hands, compared to its average volume of 201,053. Powerlaw has a 12-month low of $9.40 and a 12-month high of $40.00. The business’s 50 day moving average is $11.21.
Insider Buying and Selling
In related news, CEO Mike Dinsdale acquired 8,726 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average price of $11.46 per share, with a total value of $99,999.96. Following the acquisition, the chief executive officer directly owned 695,230 shares in the company, valued at $7,967,335.80. This represents a 1.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new stake in shares of Powerlaw in the 2nd quarter worth approximately $431,000. Resolute Advisors LLC bought a new stake in Powerlaw in the second quarter worth about $869,000. Bank of America Corp DE acquired a new position in shares of Powerlaw in the 2nd quarter valued at about $1,718,000. Finally, Ieq Capital LLC bought a new position in shares of Powerlaw in the 2nd quarter valued at approximately $232,000.
About Powerlaw
Powerlaw Corp. is a venture capital fund specializing in directly investing. It prefers investing in growth capital and late stage. The fund prefers to invest in private technology companies, technology: artificial intelligence, next-generation software, modern aerospace and defense, and leading consumer technology platforms and enterprise SaaS sectors.
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