Hauppauge Digital, Inc. (NASDAQ:HAUP)
started the heavy trade yesterday. The stock soared 17.31% on its price, while its
traded volume reached approximately 3 million shares. That's a big gain for HAUP as compared to its average volume of only 231 thousand shares.
The current high trade immediately placed the stock among the greatest percentage gainers on NASDAQ and provoked the investors' attention.
The most probable reason for the price jump appeared to be the latest press release by HAUP. The company reported that its high definition video recorder has been supported as a TV video recorder in Windows Media Center. As the recorder has been installed in over 50 million PCs by now, the company is highly optimistic about its product and expects future profits.
Obviously, traders also expect future profits and the stock climbs up at top speed. Still, the earnings are to be released.
Hauppauge Digital, Inc. is a developer of analog and digital television tuner and other products for the personal computer market. Following the records, we can see that till May the company used to trade much lower and received a written notification from NASDAQ that it has regained compliance with Nasdaq Listing Rule for the minimum closing bid price of $1.00 per share. However, in mid-May the stock hit the high trade and reached approximately $4.00 per share.
The first quarter results of the company are not quite satisfying. Revenue and gross profit of HAUP have declined as compared to the previous period and the company has incurred a higher net loss. Though, HAUP's sales have increased and it still has more assets than liabilities on its balance sheet.
Currently, the stock is moving up, however no predictions for the future can be made yet.