CCO Karnawat buys 12,100 shares at blended $1.62 while stock down 85.1% from 52-week high; cluster buy pattern detected
Karnawat Sunil Ratilal, Chief Commercial Officer, executed 2 separate purchases totaling 12,100 shares for $19,598.80 on 2025-12-15, increasing his holdings by 20.4% from 59,442 to 71,542 shares. The transactions occurred at prices of $1.62 and $1.60 per share, against a current market price of $1.63 and a 52-week high of $10.94—placing the stock at -85.1% from its peak and down 83.5% over the past 30 days. The company is operating at a loss with net income of $-18,150,000.00. Notably, 2 other insiders also purchased shares within the past 14 days, forming a cluster buy pattern, which may indicate a coordinated assessment of value at depressed levels, though such patterns can also simply reflect reactive behavior to price weakness rather than forward-looking conviction about business recovery.