Here's Why ViewRay Stock Is Surging Again

Shares of ViewRay (NASDAQ: VRAY), a medical equipment provider that has had a very tough week, are on the upswing again. Shares rose 12% as of 11:42 a.m. after an SEC filing showed that an insider has been adding to his position after this week's drubbing.

Shahriar Matin, ViewRay's COO, purchased 60,000 shares of stock on the open market on Wednesday at a price of $4.02 per share.

That $240,000 purchase is being viewed as a big vote of confidence in the company's future. Traders are bidding up shares in response to insider buying at today's depressed prices.

Source Fool.com