Shares of Calgary’s CriticalControl Solutions (CriticalControl Solutions Stock Quote, Chart, News: TSX:CCZ) have been sliding for the better part of two years, but recently company insiders are taking advantage of the stock’s relatively low price and loading up on shares.
Yesterday, CEO Alykhan Mamdani bought 51,500 shares of CCZ at $.225 and $.23. He was joined by director Dennis Nerland, who bought 12,375 at $0.23 and director Murray Smith, who bought the same amount at the same price.
On Tuesday, more insiders, including director Gary Bentham bought shares in the open market as did all the aforementioned insiders, excepting Mamdani.
Calgary-based CriticalControl Solutions was founded in 1999 by current CEO Alykhan Mamdani. The company supplies data management and enterprise content management tools to half the provincial ministries of the Alberta government, but the bulk of its revenue comes from sales to oil and gas companies. Higher fuel prices means more demand for CriticalControl’s gas composition management, gas chart integration and field device control technologies, particularly in the United States energy service sector, where the company has looked to expand. CriticalControl is consistently profitable, and had grown its revenue from just $23-million in 2007 to nearly $50-million in fiscal 2011 before the fiscal 2012 fall back.
Shares of CriticalControl Solutions closed today down 4.35% to $.22.