HLBZ Stock Pops on Insider Buying News. Who Is Betting on Helbiz?


What is going on with Helbiz (NASDAQ:HLBZ) today? Shares of the New-York based company are up over 10% and traded as high as $3.71 this morning. Helbiz operates as a micro-mobility company for urban areas. The company offers a fleet of vehicles, including electric scooters, bikes and mopeds. Helbiz also offers streaming services through Helbiz Live and food-delivery services through Helbiz Kitchen. Despite today’s gain, shares of HLBZ stock are still down more than 35% year-to-date. However, the CEO of Helbiz recently made a substantial purchase of his own company, prompting investors to wonder who else is betting big on this company.

A row of Helbiz (HLBZ) bikes.
Source: MarbellaStudio / Shutterstock.com

In a Form 4 received by the U.S. Securities and Exchange Commission (SEC) yesterday, Helbiz CEO Salvatore Palella purchased 300,000 shares of HLBZ stock for $5.78 each. In an earlier transaction, Salvatore had purchased 200,000 shares for $8.20 each. Helbiz is currently trading at the mid-$3 level, so Palella is sitting on a significant loss. However, the purchase shows that the CEO is bullish on Helbiz’s future prospects.

In recent Helbiz news, the micro-mobility company expanded its partnership with Segway. The partnership will see Segway supply micro-mobility vehicles to Helbiz, such as electric scooters and bikes. In addition, based off of the partnership, Helbiz expects to have over 35,000 vehicles on the road by mid-2022.

Antonio Rapisarda, Segway’s general manager of commercial mobility, commented on the partnership, saying, “We are confident that our products, equipped with the most advanced safety technologies, will help Helbiz build a reliable, energy-efficient and smart fleet.”

With the recent insider buying and Segway news in mind, let’s take a look at who else is betting big on HLBZ stock.

HLBZ Stock: Who Else Is Betting Big on Helbiz?

  1. Omni Partners: 366,445 shares, or 1.2% ownership.
  2. Jane Street Group: 32,903 shares, or 0.1% ownership.
  3. Goldman Sachs: 16,277 shares, or 0.05% ownership.
  4. Tower Research Capital: 4,490 shares, or 0.01% ownership.
  5. Wolverine Asset Management: 4,462 shares, or 0.01% ownership.

It seems institutional investors aren’t too keen on HLBZ stock. However, the low institutional ownership can partly be explained by Helbiz’s limited time on the public markets. Helbiz made its debut on the Nasdaq exchange during August last year via special purpose acquisition company (SPAC). As a result, institutional owners may be conducting additional research before deciding to buy Helbiz.

Investors should wait for the next round of 13F forms to come in to determine whether Helbiz attracted increased institutional attention. The upcoming deadline for Q4 13F forms will fall on Feb. 14.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2022/02/hlbz-stock-pops-on-insider-buying-news-who-is-betting-on-helbiz/.

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