WPCS Int'l. (WPCS) Stock Spikes on New Contracts

NEW YORK (TheStreet) -- Shares of WPCS International (WPCS) were jumping 79.9% to $2.77 on heavy trading volume after the wireless communications services company announced it was awarded $3.6 million in new contracts.

WPCS said it was awarded the $3.6 million in new contracts during the first two months of fiscal 2016. The contracts include a $2.4 million technology cabling and technology room build-out for network cabling at the new California Pacific Medical Center, St. Luke's Campus Hospital, in San Francisco.

"With Suisun City Operations having just completed a profitable fiscal year end 2015, this is a very good start to the new year," WPCS Interim CEO Sebastian Giordano said in a statement.

About 2.2 million shares of WPCS International were traded by 10:34 a.m. Wednesday, well above the company's average trading volume of about 111,000 shares a day.

WPCS ChartWPCS data by YCharts

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