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TheStreet Wire

Velti Stock Falls On Unusually High Volume (VELT)

By TheStreet Wire 05/16/12 - 09:50 AM EDT

Find out if (VELT) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Velti (Nasdaq:VELT) is trading at unusually high volume Wednesday with four million shares changing hands. It is currently at 4.2 times its average daily volume and trading down $1.61 (-18.7%) at $6.99 as of 10:27 a.m. ET.

Velti has a market cap of $525.5 million and is part of the technology sector and computer software & services industry. Shares are up 26.5% year to date as of the close of trading on Tuesday.

Velti plc engages in the provision of mobile marketing and advertising technology and solutions for brands, advertising agencies, mobile operators, and media companies in Europe, the Americas, Asia, and Africa.

TheStreet Ratings rates Velti as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Velti Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

For more information on Velti PLC click any of the following:

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