A few weeks after its IPO, shares of DIRTT Environmental Solutions (TSX:DRT) have flatlined, but some closest to the company are betting on better days ahead.
Several company insiders, including President Scott Jenkins and CFO Derek Payne, have made open market purchases of DIRTT in recent days.
Founded in 2005, Calgary-based DIRTT, an acronym for”Doing It Right This Time”, employs a 3D software platform to design and produce custom prefab interiors. The company compares its product to Lego in that its components connect using a repeated interface, but produce a unique result.
DIRTT IPO’d late in November after raising $45-million through a syndicate of underwriters that was led by Raymond James and included Canaccord Genuity, National Bank Financial, TD and Cormark.
CEO Mogens Smed underscored that tech is in the company’s DNA.
“DIRTT has a business model and a culture that we hope will lead the way in redefining how the world manufactures and constructs,” he said. “We are not a conventional manufacturer or construction company: we are the owner of a powerful technology that brings unprecedented efficiency to the manufacturing and interior construction sectors.”
At press time, shares of the company were even at $2.60.