Monday's Small-Cap Winners & Losers
Conolog (CNLG) was nearly tripling in price on a massive pickup in volume Monday, but no news or developments were evident.
Nevertheless, the provider of digital-signal processing and digital-security products was the Nasdaq's leading percentage gainer, soaring $2.26, or 173%, to $3.57. The stock went as high as $4.29 earlier. Roughly 3.8 million shares had changed hands, whereas the average daily volume is under 14,000 shares.
Another stock on the move higher was Targeted Genetics (TGEN), up $2.33, or 61%, at $6.17. The biotech company also didn't have any announcements, but volume was much heavier than normal, as more than 5.8 million shares traded. On an average day around 107,000 shares are swapped.
Pointer Telocation (PNTR), a company that offers road-side assistance to motorists and helps find stolen vehicles, climbed 28% to $19.35 after the company said it filed to list its shares on the Tel Aviv Stock Exchange.The company is also considering applying for listing on Nasdaq's Global Market during 2007. Pointer currently trades on the Nasdaq Capital Market, formerly known as the Nasdaq Small Cap Market. The Global Market used to be called the Nasdaq National Market. Sorl Auto Parts (SORL) dropped after it priced an offering of 4.3 million shares at $7.25 each. Net proceeds will be about $28.4 million. Shares of Sorl were down 9% at $7.56. TTI Team Telecom International (TTIL) slipped after it said Ruben Markus will step down from his position as chief executive at the end of this month because of differences over the management of the company. On an interim basis, the board has appointed Meir Lipshes, the chairman and former CEO, as acting chief executive. TTI was lower by 1.5% at $2.60.
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