Over the last week and a half, investors have been jumping for joy if they had recently purchased shares of Great Basin Scientific Inc (NASDAQ:GBSN). The company’s stock has exploded from a low of around $0.05 just a week ago, to a high of $0.27 earlier today.
Volume is incredibly high today and many investors on Twitter theorize that this run up could have something to do with a short sqeeze along with possible pending news of future FDA approvals of their test products.
From a fundamental standpoint shares are getting into a bit of an oversold area with the RSI currently at 74.70. That may be the cause of a pullback that began a couple of hours ago. The stock is up 58.35% or $0.074 after the positive news, hitting $0.201 per share. About 106.88M shares traded hands or 631.55% up from the average. GBSN has declined 97.10% since April 27, 2015 and is downtrending. It has underperformed by 96.21% the S&P500.
The institutional sentiment decreased to 2.67 in Q2 2015. Its down Infinity, from Infinity in 2015Q1. The ratio is negative, as 2 funds sold all Great Basin Scientific Inc shares owned while 1 reduced positions. 6 funds bought stakes while 2 increased positions. They now own 324,542 shares or 474.04% more from 56,536 shares in 2015Q1.
Green Owl Capital Management Llc holds 0.13% of its portfolio in Great Basin Scientific Inc for 62,000 shares. Sabby Management Llc owns 51,771 shares or 0.01% of their US portfolio. Moreover, A.R.T. Advisors Llc has 0% invested in the company for 12,226 shares. The California-based Blackrock Institutional Trust Company N.A. has invested 0% in the stock. Citadel Advisors Llc, a Illinois-based fund reported 16,596 shares.
Great Basin Scientific, Inc. is a molecular diagnostic testing company. The company has a market cap of $24.60 million. The Firm is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious disease. It currently has negative earnings. The Firm has a commercially available test, a diagnostic test for clostridium difficile , which received clearance from the Food and Drug Administration (FDA).