Velti Stock Falls On Unusually High Volume (VELT)

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.

null

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%