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The four stocks below are in a wide range of industries, from energy to restaurants to biological warfare research. However, all have one thing in common: notable insider buying in recent days.

Insider buying is often a signal that a stock is undervalued. Directors, officers and other insiders often know their companies better than the average investor or stock analyst, so when they use their own money to buy shares, it can be very meaningful. Some of these stocks are trading near the 52 week high and yet appear to have more room to the upside. Others are trading near the lows for the past year, and also look like great potential buying opportunities. I have provided links for each stock which verifies the insider buying filed with the SEC below. Here are some stocks with strong insider buying in the past couple of weeks:

Black Hills Corporation (NYSE:BKH) is trading around $33.67. Black Hills provides coal, gas and electric power to customers in South Dakota, Wyoming, Colorado, and Montana. These shares have traded in a range between $25.83 to $34.85 in the last 52 weeks. The 50-day moving average is $32.68 and the 200-day moving average is $30.98. BKH is estimated to earn about $1.77 per share in 2011, and $2.23 in 2012. The book value is $27.57. BKH pays a dividend of $1.46 per share which is equivalent to a 4.3% yield. Buying dividend stocks that offer stability like this energy company offers, makes sense in a low interest rate environment. On January 5, 2012, an insider reported purchasing over 1,000 shares.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), is trading around $51.08. Cracker Barrel operates a chain of restaurants and shops that market gifts and Cracker Barrel branded food products such as jams, pancake mixes, etc. These shares have traded in a range between $37.31 to $54.98 in the last 52 weeks. The 50-day moving average is $47.28 and the 200-day moving average is $45.64. CBRL is estimated to earn about $4.30 per share in 2011, and $4.69 in 2012. Cracker Barrel pays a dividend of $1 per share which is equivalent to a 2% yield. This stock has been showing strength and the uptrend could continue, so buying on dips is likely to payoff for investors. On January 5, 2012, an insider reported buying over 118,000 shares.

SIGA Technologies, Inc. (NASDAQ:SIGA) is trading around $2.02. SIGA is working on products to defend against biological warfare, and is based in New York. These shares have traded in a range between $1.78 to $15.66 in the last 52 weeks. The 50-day moving average is $2.51 and the 200-day moving average is $7.31. SIGA is estimated to earn 62 cents per share this year and lose about 20 cents for next year. This stock has started to rebound from recent lows, but it is still way below the 52 week high. SIGA stock fell out of favor with many investors in late 2011, when the company became controversial over concerns about the validity of contracts and other legal issues. This stock could eventually be a great turnaround play for patient investors. Insiders have been making repeated purchases in recent months. A director reported buying 50,000 shares on December 30, 2011.

EQT Corporation (NYSE:EQT) is trading around $55.79. This energy company develops and produces natural gas and crude oil in Pennsylvania, Kentucky, West Virginia, and Virginia. The 50-day moving average is $58.83, and the 200-day moving average is $55.32. These shares have traded in a range between $43.18 to $73.10 in the last 52 weeks. EQT is estimated to earn about $2.16 per share in 2011, and earn $2.65 in 2012. EQT pays a dividend of 88 cents per share which is equivalent to a 1.6% yield. In October, 2011, this stock traded at about $70, but it has dropped in recent months. This looks like a buying opportunity and insiders are taking advantage of it. On January 5, 2012, a director reported purchasing nearly 200 shares.

The data is sourced from Yahoo Finance and Insidercow.com.

Disclaimer: The information and data is believed to be accurate, but no guarantees or representations are made. Rougemont is not a registered investment advisor and does not provide specific investment advice. The information contained herein is for informational purposes only.

Source: 4 Stocks With Significant Insider Buying