Short Interest in Powerlaw Corp (NASDAQ:PWRL) Rises By 612.9%

Powerlaw Corp (NASDAQ:PWRL) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 212,806 shares, an increase of 612.9% from the May 31st total of 29,852 shares. Based on an average trading volume of 446,868 shares, the short-interest ratio is presently 0.5 days. Currently, 0.5% of the company’s stock are short sold.

Powerlaw Stock Performance

NASDAQ:PWRL traded down $1.03 during mid-day trading on Friday, reaching $12.98. The stock had a trading volume of 345,603 shares, compared to its average volume of 403,005. Powerlaw has a fifty-two week low of $12.77 and a fifty-two week high of $40.00.

Insider Buying and Selling at Powerlaw

In other news, CIO Benjamin David Black bought 6,500 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $15.47 per share, with a total value of $100,555.00. Following the transaction, the executive directly owned 445,978 shares in the company, valued at approximately $6,899,279.66. This trade represents a 1.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mike John Dinsdale bought 12,727 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $15.47 per share, for a total transaction of $196,886.69. Following the completion of the transaction, the chief executive officer owned 686,504 shares in the company, valued at approximately $10,620,216.88. The trade was a 1.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 22,168 shares of company stock valued at $347,027.