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

Via Renewables’ (NASDAQ:VIASP) quiet period will end on Wednesday, October 22nd. Via Renewables had issued 10,714,285 shares in its 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 the company’s quiet period, insiders and underwriters involved in the IPO are restricted 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 $25.16 on Friday. The stock’s fifty day moving average is $25.68 and its 200 day moving average is $25.00. Via Renewables has a fifty-two week low of $20.50 and a fifty-two week high of $26.68.

Via Renewables Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Thursday, January 1st will be issued a dividend of $0.6715 per share. This represents a $2.69 annualized dividend and a yield of 10.7%. The ex-dividend date is Wednesday, December 31st.

Insider Activity at Via Renewables

In other Via Renewables news, CEO Daniel Ramot sold 500,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $43.10, for a total value of $21,550,000.00. Following the sale, the chief executive officer owned 2,414,053 shares in the company, valued at $104,045,684.30. This trade represents a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nechemia Jacob Peres sold 388,645 shares of the stock in a transaction 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 completion of the sale, the director owned 6,425 shares in the company, valued at approximately $276,917.50. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have 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.