Via Renewables, Inc.’s (NASDAQ:VIASP) Quiet Period To End on October 22nd

Via Renewables’ (NASDAQ:VIASP) quiet period is set to end on Wednesday, October 22nd. Via Renewables had issued 10,714,285 shares in its initial public offering on September 12th. The total size of the offering was $492,857,110 based on an initial share price of $46.00. During Via Renewables’ quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Via Renewables Stock Performance

NASDAQ:VIASP opened at $25.63 on Friday. Via Renewables has a 12-month low of $20.50 and a 12-month high of $26.68. The business has a 50 day simple moving average of $25.69 and a 200 day simple moving average of $24.98.

Via Renewables Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Thursday, January 1st will be given a $0.6715 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.69 annualized dividend and a yield of 10.5%.

Insiders Place Their Bets

In other Via Renewables news, CEO Daniel Ramot sold 500,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $43.10, for a total value of $21,550,000.00. Following the completion of the transaction, the chief executive officer owned 2,414,053 shares in the company, valued at approximately $104,045,684.30. This represents a 17.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nechemia Jacob Peres sold 388,645 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $43.10, for a total value of $16,750,599.50. Following the transaction, the director owned 6,425 shares of the company’s stock, valued at approximately $276,917.50. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 913,645 shares of company stock worth $39,378,100.

Via Renewables Company Profile

Via Renewables, Inc, through its subsidiaries, operates as an independent retail energy services company in the United States. It operates through two segments, Retail Electricity and Retail Natural Gas. The Retail Electricity segment engages in the transmission and sale of electricity to residential and commercial customers.