SGOCO Group Ltd (NASDAQ:SGOC) shares are up huge today, in what simply looks to be a move of volatility, technical analysis and perhaps some pumping by shareholders. Trading at a volume over 15 times the 3-month average, shares have jumped without any news reported by the company.
Some investors are attributing this move to shares of SGOCO Group Ltd (NASDAQ:SGOC) blasting past their 50, 100, and 200 Displaced Moving Averages. Other investors are speculating that perhaps the move is on insider information of a possible forthcoming merger. Whatever it is, it has provided for quite the interesting and exciting day for longs of this stock.
The stock is up 21.68% or $0.13 following the news, hitting $0.73 per share. About 1.09 million shares traded hands or up 910.69% from the average. SGOC has declined 14.29% since June 2, 2015 and is currently downtrending. It has underperformed the S&P500 by 9.59%.
SGOCO Group, Ltd. is engaged in the provision of liquid crystal display (LCD) and light emitting diode (LED) monitors. The company has a market cap of $10.85 million. The Firm also develops and sells All-in-One (AIO) and Part-in-One (PIO) computers through its distribution network. It currently has negative earnings. The Company’s product lines on sale include LCD and LED monitors with screen sizes up to 40 inches; AIO and PIO computers, and application-specific LCD and LED display products, such as tablet personal computers (PCs) for commercial and consumer use, all-in-one e-reader notebooks, cell phone devices, mobile Internet devices, e-boards that integrate software and hardware functionalities, rotating screens, closed circuit television (CCTV) monitors for security systems, billboard monitors for advertising and public notice systems, as well as touch screens for non-keyed entries.