MVA Investors liquidates 234,731 shares (68.3% of holdings) across 3 sales at $8.57–$8.87; stock now $8.10, down 37.1% from 52-week high.
MVA Investors, LLC executed 3 separate sales totaling 234,731 shares for $2,055,313.97 at a blended average price of $8.76 over a four-day window (June 28–July 2, 2024), reducing holdings from 343,524 shares to 108,793 shares. At the current price of $8.10, the stock has declined $0.66 from the blended sale price and trades 37.1% below its 52-week high. Notably, the seller's prior trades at TNGX (3 sales between May 1–May 3) all generated negative 30-day returns ranging from -6.9% to -9.1%, signaling a consistent pattern of selling ahead of near-term weakness at this ticker. Against that backdrop, the June 28–July 2 sales occurred at prices above the current market level, though the stock's wider 52-week downtrend and ongoing unprofitability (net income of $-37,914,000.00 on quarterly revenue of $6,471,000.00) create a context of material financial stress that may explain the insider's deliberate reduction in exposure.