Monitor whether Zeff Capital continues to sell or if additional director buying emerges. The director purchases after record earnings support a bullish fundamental view, but the large holder's sales may cap near-term upside. Watch for any Form 4 filings from C-suite insiders.
Price Chart
Executive Summary
Butler National Corp (BUKS) insider trading cluster shows mixed signals: directors Daly and Loh purchased ~$147K in open-market buys after the company reported record fiscal 2026 revenue of $97.967M, while 10% owner Zeff Capital sold ~$239K in the same window. The net direction is mixed, with total insider activity of ~$386K representing a modest fraction of the company's market cap. The director buying following record earnings is a positive signal, but the concurrent selling by a large holder introduces caution.
Key Financial Metrics
Key Facts
- Director Joseph Daly purchased 30,000 shares for ~$131K on July 10-13, 2026.
- Director Michael Loh purchased 3,658 shares for ~$15.9K on July 10, 2026.
- 10% owner Zeff Capital sold 51,975 shares for ~$239K on July 10-14, 2026.
- Total insider buys of ~$147K vs. sells of ~$239K; net selling of ~$92K.
- Earnings filed July 8, 2026 showed record revenue of $97.967M and record backlog of $47.1M.
- No C-suite executives participated in the cluster.
Financial Impact
Total insider trading of ~$386K, with net selling of ~$92K. Relative to estimated market cap ($200-300M), this is <0.2% — modest.
Risk Factors
- Continued selling by 10% owner Zeff Capital could pressure the stock.
- Lack of C-suite insider buying may indicate limited conviction at the executive level.
- Low liquidity on OTC exchange may amplify price impact of insider trades.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BUKS-1784073684363 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 8-K | $4.40 $4.32 | ▼ −1.82% | ▼ −1.39% | $4.91 (+11.59%) |
Sep 30, 2026 27d ago | 8-K | $4.03 $4.14 | ▲ +2.73% | ▲ +2.55% | $4.91 (+21.84%) |
Sep 21, 2026 5w ago | Insider Cluster | $4.09 $4.11 | ▲ +0.49% | ▲ +1.21% | $4.91 (+20.05%) |
Sep 21, 2026 5w ago | Insider Cluster | $4.09 $4.11 | ▲ +0.49% | ▲ +1.21% | $4.91 (+20.05%) |
Sep 11, 2026 6w ago | 8-K | $4.25 $4.02 | ▼ −5.41% | ▼ −4.97% | $4.91 (+15.53%) |
Aug 20, 2026 9w ago | 8-K | $4.25 $4.11 | ▼ −3.29% | ▼ −3.70% | $4.91 (+15.53%) |
Jul 16, 2026 14w ago | Insider Cluster | $4.86 $4.78 | ▼ −1.65% | ▼ −1.48% | $4.91 (+1.03%) |
Jul 14, 2026 15w ago | Insider Cluster | $4.78 $4.80 | ▲ +0.42% | ▲ +0.96% | $4.91 (+2.72%) |
Jul 14, 2026 15w ago | Insider Cluster | $4.78 $4.80 | ▲ +0.42% | ▲ +0.96% | $4.91 (+2.72%) |
Jul 8, 2026 15w ago | 8-K | $4.25 $4.37 | ▲ +2.82% | ▲ +1.98% | $4.91 (+15.53%) |
US Market Status
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