Shares of Sypris Solutions, Inc. (NASDAQ:SYPR) are opening the New Year with a bang as the stock was trading up over 100% prior to being halted. Apparently there is no news concerning the company, and many investors are wondering if this huge move was the result of a “pump and dump”.
After trading was resumed moments ago, shares of Sypris Solutions, Inc. (NASDAQ:SYPR) continued to trade up big, but lost much of their gains. Volume for the day is already at seven time the 3-month average. We will keep you updated on any further news.
The stock is up 64.22% or $0.7 following the news, hitting $1.79 per share. About 11,737 shares traded hands. SYPR has declined 27.33% since May 29, 2015 and is downtrending. It has underperformed the S&P500 by 25.21%.
The institutional sentiment decreased to 0.53 in Q2 2015. It’s down 0.33, from 0.86 in 2015Q2. The ratio dropped, as 8 funds sold all their Sypris Solutions, Inc. shares they owned while 7 reduced their positions. 4 funds bought stakes while 4 increased their total positions. Institutions now own 5.76 million shares which is 5.78% less than the previous share count of 6.12 million in 2015Q2.
Aegis Financial Corp holds 1.23% of its total portfolio in Sypris Solutions, Inc., equating to 1.54 million shares. Weber Alan W owns 390,656 shares representing 0.43% of their total US portfolio. Moreover, Needham Investment Management Llc has 0.29% of their total portfolio invested in the company, equating to 965,000 shares. The Massachusetts-based Ironwood Investment Management Llc has a total of 0.12% of their portfolio invested in the stock. Donald Smith & Co. Inc., a New York-based fund reported 263,012 shares owned.
Sypris Solutions, Inc. is a well-known provider of outsourced services and specialty products. The company has a market cap of $37.21 million. The Firm offers a range of manufacturing, engineering, design and other technical services. It currently has negative earnings. It operates through two divisions: the Industrial Group and the Electronics Group.