10 Stocks With At Least $20 Million In Insider Spending Recently

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

Highest Individual Purchase: $32,574,540.00

Number of Purchases Worth Between $20 million and $35 million: 2

Market Capitalization: $932.7 million

The third stock with significant recent insider investment is a single-source provider of specialized truck and heavy equipment solutions, such as sales, rentals, and financing. Custom Truck One Source operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).

In December, two insiders each purchased $32.57 million worth of Custom Truck One Source shares at a price of $4 per share. At the moment, the stock is trading at $4.14, having lost 13.93% year-to-date.

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

The company’s leadership anticipates that the growing demand for electricity driven by AI and data centers will create a long-term growth opportunity. Industry reports project a 24% to 29% increase in electricity demand in the United States by 2035.

Four analysts have an average “Moderate Buy” rating on Custom Truck stock, with a 12-month price target of $5.63, according to MarketBeat.

Custom Truck is also one of the 12 best long-term penny stocks to buy according to hedge funds.