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Joseph V. Salvucci Sr., a director at EON Resources Inc. (NASDAQ:EONR), recently acquired a significant amount of the company’s Class A common stock amid the stock’s 79.7% decline over the past year. According to InvestingPro data, this insider purchase comes as analysts maintain a $4.50 price target for the stock, significantly above its current price of $0.51. According to a recent SEC filing, Salvucci purchased a total of 69,420 shares over two consecutive days. On March 26, he acquired 19,420 shares at a weighted average price of $0.5187 per share, and on March 27, he purchased an additional 50,000 shares at a weighted average price of $0.5369 per share. The total value of these transactions amounted to approximately $36,918. Following these acquisitions, Salvucci’s total shareholding in the company increased to 1,405,170 shares, representing a significant portion of the company’s $5.31 million market capitalization. Track insider trading patterns and access 13 additional key insights with InvestingPro.
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