In a recent transaction reported to the U.S. Securities and Exchange Commission (SEC), Max Gottschalk, a director and significant shareholder of Perfect Moment Ltd. (NASDAQ:PMNT), acquired additional shares in the company. The transaction, dated July 17, 2024, involved the purchase of 2,400 shares of common stock at a price of $1.8817 per share, totaling approximately $4,516.
The acquisition by Gottschalk is part of his ongoing investment in Perfect Moment Ltd., a company operating within the apparel and finished products sector. Following the transaction, the direct and indirect holdings of Gottschalk have seen an increment, now encompassing a total of 250,625 shares held indirectly through Joachim Gottschalk & Associates Ltd., as indicated by the footnotes in the SEC filing.
It is noteworthy that the shares reported in this transaction are held indirectly, with the Gottschalk Family Trust being the 100% owner of Joachim Gottschalk & Associates Ltd. Credit Suisse Trust Limited, acting as the trustee, takes direction from Max Gottschalk, who is a beneficiary of the trust. However, Gottschalk has disclaimed beneficial ownership of these shares except to the extent of his pecuniary interest.
Additionally, Gottschalk and his spouse, Jane Gottschalk, share voting and dispositive control over Fermain Limited, which holds 3,479,491 shares, and they each have control over shares beneficially owned by the other, including 16,600 shares held by the spouse.
This latest acquisition by a key insider of Perfect Moment Ltd. may be of interest to investors and market watchers who closely monitor insider transactions as indicators of executive confidence in the company's prospects.
InvestingPro Insights
Following the insider acquisition by Max Gottschalk, a deeper look into Perfect Moment Ltd. (NASDAQ:PMNT) through InvestingPro reveals a mixed financial landscape. Despite a challenging market, the company holds more cash than debt, which is a positive sign of financial stability. This is particularly relevant given that the company is quickly burning through cash, as noted by one of the InvestingPro Tips. Additionally, the stock has experienced significant price volatility, another tip that could be of interest to investors considering the implications of insider transactions.
InvestingPro Data metrics provide further context to the company's financial health. Perfect Moment Ltd. has a market capitalization of 26.61M USD, reflecting its size in the market. However, it's important to note that the company's P/E Ratio stands at -1.2, indicating that it is not currently profitable—a sentiment echoed by analysts who do not anticipate the company will be profitable this year. Moreover, the stock has seen a substantial price decline over the last six months, with a 6 Month Price Total Return of -67.31%.
For investors seeking a comprehensive analysis of Perfect Moment Ltd., InvestingPro offers additional insights. There are 11 more InvestingPro Tips available that could help in making a well-informed investment decision. To access these tips and benefit from the full range of features offered by InvestingPro, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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