COO and CFO Manmeet Singh Soni bought 50,000 shares at blended average price $14.44 on 2026-06-04, adding to 3.12M share position. Stock down 52.1% from 52-week high.
Manmeet Singh Soni, serving as both COO and CFO, executed 2 separate purchases totaling 50,000 shares for $722,250.00 at average price $14.44 on 2026-06-04. The purchase increases his holdings to 3,123,603 shares. This purchase occurs as the stock trades at $14.84, down 52.1% from its 52-week high of $30.98 and down 15.4% over the prior 30 days. Soni's cross-ticker track record shows 1 prior buy against 9 prior sells, and his single prior buy at SMMT (2023-10-13) has no measurable outcome data. The company posted negative net income of $-189,424,000.00 and zero revenue in the latest quarter, indicating material operational challenges. The timing of this insider purchase against depressed valuation and company fundamentals warrants attention, though the insider's historical bias toward selling activity limits inference of strong conviction from a single buy transaction.