PET on the menu?

Watching the transactions last Thursday and Friday, I noticed that there seemed to be a pattern forming in which periodically, chunks of PET shares were being snapped up in single trades of around $20,000 at a time.

The same pattern was apparent today, though to an even greater extent:

*At 10:47, there was another single purchase of just over $20K worth of shares.

*At 12:32, there was an even bigger bite, with around $40,000 dollars worth of shares snapped up.

*Just a minute later, another $20K bite.

*At 3:39 $25K worth of shares purchased in one go.

*Finally, there was a massive bite at the last second of trade, with around $90,000 worth of shares purchased at 4:10.

It is possible that the large volume apparent in this last trade may have been the result of more than one buyer: possibly, some traders had also noticed the pattern described above, and decided to take a position at the last second.

Has a Fund Manager taken a liking to this stock?. The single, large buys described above would certainly seem to suggest that an institutional investor has started taking up a position in this stock.

As some posters here recently observed, Phoslock is still a fairly illiquid stock, so if a large buyer is moving in, it is probably harder for them to cover up their tracks than would normally be the case.

It seems to me that what has been holding the PET share price back over the past couple of months is that, although small buyers seem to be keen on this stock, that just isn't enough to offset the selling we have been seeing from major holders.

But it looks like a large investor might have now decided to 'buy in on the dip'.

If there is a large, institutional investor taking up a position in this stock, and it does look like that may be the case, they should be able to soak up the selling from existing holders, thereby paving the way for the share price to explore new territory.