Martin Tsvetkov

Nanophase Technologies Corp. (PINK:NANX) Takes a Nosedive

by Martin Tsvetkov April 21, 2012
NANX_chart.pngYesterday, Nanophase Technologies Corp. (PINK:NANX) recorded its second worst market performance for the last six months.

Closing trade at $0.37, NANX fell down $0.12, or 24.49% in comparison with its previous close. Shifting more than 914 thousand shares, however, the company recorded its highest turnover for the last six months.

NANX_logo.pngThus, NANX's upward trend was quickly dealt a blow. Whether the company will manage to strike back or not is, at this stage, far from clear.

Established in 1989, Nanophase Technologies Corp. is primarily focused on developing nanomaterials technologies. It also offers nanoengineered solutions designed for various industrial applications.

When NANX recently published its comprehensive 10-K report for the 2011 fiscal year, its managers disclosed revenue growth for a second year in a row, as well as a lower annual net loss. The stock slumped by 24.6% on the very next day.

Even though the company's financials are showing signs of improvement, investors still remain sceptical about NANX's long-term prospects.

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