Insider Trading Report: The Tattooed Chef (TTCF)

Daniel Williamson, a director at The Tattooed Chef (TTCF) recently bought 250,000 shares. The buy came to a total price of $2.5 million, and represented a 3,346 percent increase in the director’s holdings.

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  • Overall, insiders own 47 percent of the company. The company president recently sold 800,000 shares, but still owns over 31.4 million shares.  These are the only insider transactions since the company went public in 2020.

    Since going public, shares have traded anywhere between $10 and a high of $30, and currently sit just under $18. The company produces and sells a portfolio of frozen foods with an emphasis on plant-based products and other health offerings.

    The company is in a sweet spot for growth, as indicated by a 47 percent rise in revenue in the past year while also becoming profitable on an earnings basis. Add in a fat profit margin of 45 percent and the multi-year trend of shifting attitudes towards plant-based foods, and shares could easily continue to move higher in time.

    Shares have been selling off over the past few months, but appear to have started a new uptrend in the past few days. That could be a reasonable sign that shares may make a run to new all-time highs.

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  • Action to take: Investors could buy shares here and look to take some profits off the table as shares near their old highs near $30.

    For traders, if the current upswing holds, a call option trade should do well. The December $20 calls, going for about $2.65, are reasonably priced for a potential triple-digit winner.

     

    Disclosure: The author of this article has no positions in the stock mentioned here, and has no intention to make a trade on this company after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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