Kaloyan Gadzhev

Patient Safety Technologies, Inc. (OTC:PSTX) Moved Up Out of the Blue

by Kaloyan Gadzhev March 23, 2012
PSTX_chart.pngPatient Safety Technologies, Inc. (OTC:PSTX, PSTX message board) started trading more actively about the end of January, and in the last several sessions the price has moved up too.

Yesterday, PSTX closed down 1.36% at $1.45. The volume reached 164 thousand shares, in line with the previous two sessions.

There has been news, but it was announced after the volume surge. PSTX issued a press release saying it will be introducing an expanded and enhanced documentation and compliance software tool at the 2012 AORN Congress. The release came out yesterday after the close.

A possible factor for an increase in volume and price could be the excitement about the financial reports which should come soon, although there is still time.

For Q3 of 2011 PSTX recorded a significant decrease in revenues compared with 2010, but the company explained that it was due to revenue from a forward order back in 2010. Still, the result from operations was a $529 thousand loss.

PSTX_logo.jpgSo far today PSTX has been trading between $1.40 and $1.45, but the market doesn't seem as active as the previous two sessions. The publishing of the financial results for Q4 and the annual report are likely to affect the market when they come.

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