covering. I estimate that about 13% of actual investor-to-investor trades are insider sales, whereas about 17% are short covering. The two approximately cancel out, making the buying and selling by regular investors the dominant influence on the stock price.
The tiny volume strongly suggests that investors are awaiting a triggering event. Since this stock has a very poor correlation with broad market moves this event will be specific to the stock rather than a macro event such as a Fed action or economic news.
Baring a suprise announcement, the next piece of information will be the upcoming earnings report. Of great interest is what the stock does in the two weeks prior to the report. If the stock remains flat going into the ER, this suggests that it will not respond to a favorable report. If the stock drifts upward before the report, I expect the upward movement to accelerate with a very good report.