NEW YORK (TheStreet) -- Shares of General Employment Enterprises (JOB) continue to gain, up 14.4% to $1.43 today on heavy trading volume, after the provider of specialty staffing services announced earlier this month that it would acquire Scribe Solutions, Inc.
General Employment Enterprises stock is up over 590% since the acquisition announcement of the healthcare staffing firm. The transaction is expected to close during the first quarter of 2015.
Under terms of the agreement, Scribe was valued between $6.4 and $7.9 million, as determined by an independent appraisal firm, the company said.
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Separately, General Employment Enterprises' major shareholder Aracle Spf I, Llc sold 461,957 shares of the stock on the open market in a transaction last week.
About 1.86 million shares of General Employment Enterprises changed hands by 12:49 p.m. in New York, compared to average of 374,573 shares.
TheStreet Ratings team rates GENERAL EMPLOY ENTERPRISES as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL EMPLOY ENTERPRISES (JOB) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been very high debt management risk by most measures."