Joseph Patrick Daly, a director and significant shareholder of Butler National Corp (OTC:BUKS), recently acquired 5,000 shares of the company's common stock. The transaction, dated October 14, involved a purchase at a price of $1.40 per share, totaling $7,000. Following this acquisition, Daly directly owns 4,030,000 shares. Additionally, through indirect ownership via EssigPR, Inc., Daly holds a total of 4,130,000 shares in Butler National Corp.
In other recent news, Butler National Corporation announced the appointment of retired Lieutenant General Michael Loh to its Board of Directors, following the voluntary departure of Aric Peters. With over 40 years of service, including his last assignment as the Director of the U.S. Air National Guard, Lt. Gen. Loh is expected to bring extensive experience and a unique pilot perspective to the board. His military career includes multiple deployments and over 125 combat flight hours.
Christopher Reedy, President and CEO of Butler National, expressed optimism about the potential for company growth, particularly in the aviation sector, with Lt. Gen. Loh's appointment. Aric Peters, VP and Director of Sales at Butler National, also welcomed Lt. Gen. Loh, foreseeing potential expansion in sales opportunities, especially in the area of Special Mission Modifications. These are recent developments that could potentially shape the future direction of Butler National Corporation.
InvestingPro Insights
The recent insider purchase by Joseph Patrick Daly aligns with several positive indicators for Butler National Corp (OTC:BUKS). According to InvestingPro data, the company is trading at a low earnings multiple, suggesting potential undervaluation. This metric could explain why Daly, as a director and significant shareholder, chose to increase his stake in the company.
InvestingPro Tips highlight that BUKS has demonstrated a high return over the last year and is trading near its 52-week high. These factors may indicate growing investor confidence and positive momentum for the stock. Additionally, the company's strong financial position is underscored by the fact that its liquid assets exceed short-term obligations, and it operates with a moderate level of debt.
It's worth noting that Butler National Corp has been profitable over the last twelve months, which could be contributing to its attractive valuation and recent stock performance. For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for BUKS, providing a deeper understanding of the company's financial health and market position.
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