10 Stocks Insiders Spent The Most Money On Recently

8. Custom Truck One Source, Inc. (NYSE:CTOS)

Value Of Shares Acquired: $65,149,080.00

Market Cap: $1.12 billion

In the eighth spot among 10 stocks with significant insider spending lately is Custom Truck One Source – a single-source provider of specialized truck and heavy equipment solutions, such as sales, rentals, and financing. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).

On January 30, two insiders acquired a total of around $65.15 million worth of shares, at a price of $4 per share. The stock is currently trading at $4.97 per share, having gained 3.33% year-to-date. Over the past 12 months, the stock dropped 27.52%.

For the third quarter of 2024, Custom Truck reported a total revenue of $447.2 million, up by 5.7% from the previous quarter. Gross profit amounted to $91.8 million, representing an increase of $2.6 million from the second quarter of 2024. Net loss was $17.4 million, a decrease of 28.9% compared to the second quarter of the year.

The company’s leadership expects that a rise in electricity demand due to AI and data centers presents a long-term growth opportunity for the company. Industry reports suggest a 24% to 29% increase in United States electricity demand by 2035.

Five analysts have an average “Buy” rating on Custom Truck stock, with a 12-month price target of $6.9, according to Stock Analysis.

Custom Truck is also considered one of the 12 Best Long-Term Penny Stocks to Buy According to Hedge Funds.