HINOON directors sell stock worth 4.1 million

In a notification sent to the PSX on 08/05/2024, Highnoon Laboratories Limited (HINOON) reported a transaction by the executive and non-executive director.

The transaction was carried out by Mr. Ashfaq and Mr. Ghulam Hussain, who are executive and non-executive directors respectively.

They sold a total of 6,700 shares of the company at a price of Rs. 624.00 per share. The total amount for this transaction stands at Rs. 4,180,800.

An insider selling stock in a company can sometimes be interpreted as a cautionary signal by investors. However, it’s important to note that insider transactions can have various interpretations depending on the context.

HINOON shares were last trading at Rs. 640.00 today.