Trajan Group (ASX:TRJ) shares rose as much as 6% during morning trading, hitting an intraday high of AU$2.14. Rising alongside Trajan was cloud software provider Ansarada Group Ltd. (ASX:AND).
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Trajan supplies precision consumables, solutions, and devices to analytical and life science industries across markets including, Australia, Malaysia, the U.S. and Europe. The company is set to host its 2022 Annual General Meeting for shareholders on October 18.
Trajan Group’s share price prediction
Trajan shares have declined about 50% since the beginning of 2022. However, analysts remain mostly bullish on the stock. According to TipRanks’ analyst rating consensus, Trajan stock is a Moderate Buy. The average Trajan share price forecast of AU$3.22 implies nearly 55% upside potential.
The stock is a favourite with company insiders. TipRanks’ Insider Trading Activity shows that Insider Confidence Signal is currently Very Positive on Trajan. In the past three months, corporate insiders have purchased AU$250,800 worth of Trajan shares.
Moreover, the stock is gaining positive mentions on financial blogs. TipRanks data shows that financial blogger opinions are 100% Bullish on TRJ, compared to a sector average of 69%.
Final thoughts
Trajan shares may be drawing interest from bargain hunters following their steep decline in recent months. Additionally, the recent wave of company insider stock purchases is likely to be sending confident signals to the market.
