Entropic Communications, Inc. (NASDAQ:ENTR
, ENTR message board
) has been banking huge gains recently. During the last 10 days, its traded
volume totaled phenomenal values and exceeded 3 million shares.
Records show, that the stock has been moving up fast, when on Friday it closed at a new high for this year.
The reason for the volume jump appears to be the series of positive announcements on Entropic's new digital technology. After the announcements were made, ENTR started climbing up on the market.
But the interesting fact here, is that right after the stock moved up, Patrick C Henry, CEO and President of Entropic, filed to damp 15,000 of his shares, worth $96.244.50.
What should follow up next and will ENTR continue to gain?
The historical data shows, that Entropic has traded much lower at the beginning of this year. However, its first quarter results look positive:
- Sales have increased sequentially each quarter
- Company has returned to profitability
- Earnings consistently exceeded estimates
Based on these facts, Entropic claims it has sufficient cash to complete its business operations.
Currently, the stock trades at $6.50, however its price change is -3.58% and its traded volume totals approximately 155 thousand shares, which is far less than the value from yesterday.
Note: This article was corrected to clarify material facts on July 7.