The TSX Venture 50 list is a good place for investors to start when searching for best technology stocks to invest in.
Companies are chosen based on three equally weighted criteria: market cap growth, share price appreciation and trading volume.
On that note, below is a list of the 10 top technology stocks, according to the 2016 TSX Venture 50 list, who they are and what they’ve been up to lately.
Here’s a closer look at those companies.
1. Peeks Social (TSXV:PEEK)
First on the list is Peeks Social, who changed their name from Keek to Peeks Social in March 2017.
Peeks Social primary activity is developing social media and social commerce products with a focus on iOS and Android products. Particularly, the company is an e-commerce based live streaming service that permits users to interact, as well as transact, in real time with real money.
In mid-April 2017, the company completed a private placement to raise gross proceeds of up to $5.4 million.
2. NexOptic Technology (TSXV:NXO)
NexOptic Technology focuses on the area of optical and lens technology.
With its option to acquire up to 100 percent of Spectrum Otpix’s outstanding shares totalling $3 million, the two companies are “on the path” to merging into a single corporation. On April 4, the companies announced the initiation of an engineering trade study for the development of the telephoto imaging system for mobile devices, including smartphones.
3. Breaking Data (TSXV:BKD)
Breaking Data provides semantic search and machine-learned language, as well as Natural Language Processing. Through this, it allows the company to process, analyze and interpret data in real time to “extract sentiment, facts, user interests and intent.”
The company has also stepped into the world of sports: its latest app, BreakingSports, uses similar techniques to track social media in fully-automated, real-time for important sports information and events to send them through push notifications to consumers.
On April 12, the company announced the acquisition of Sports Media Holdings.
4. Memex (TSXV:OEE)
Founded in 1992, Memex’s flagship product, MERLIN, is the one of the first industrial Internet platform solutions for manufacturing. The product also provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time.
At the beginning of April, Memex announced it had received $431, 000 in new purchase order for its MERLIN product.
David McPhail, the company’s president and CEO, said in the release that, “Recently, the American Association of Manufacturing Technology (AMT) announced that its members are far more confident since the elections, and that technology investment should begin in earnest over the Spring.”
5. Apivio Systems (TSXV:APV)
Apivio Systems designs, develops, manufactures and sells communications equipment and software, including voice over internet protocol (VoIP) telephone solutions. The company’s products are typically designed for small- and medium-sized enterprises, in addition to home offices. Apivio sells products and services to telephone companies and a network of dealers and distributors located primarily in South Korea.
In February, Haywood analyst Pardeep Sangha reiterated his “buy” rating for the company and one-year price target of $1. After visiting the company’s operations in South Korea, he told Cantech Letter, “we are maintaining our $1.00 target price, but now have a greater appreciation and confidence in the Korean operations.”
In February 1, 2017, the company announced its rejection of the unsolicited offer from Nuri Telecom Company, citing that, “the Nuri Offer significantly undervalues Apivio and is not in the best interests of Apivio or its shareholders.”
6. AcuityAds Holdings (TSXV:AT)
AcuityAds Holdings provides targeted digital media solutions, allowing advertisers to connect intelligently with their audiences across a variety of platforms, including online display, video, social and mobile campaigns.
In August, AcuityAds reported a 53 percent increase in total revenue for Q2 2016 compared to Q2 2015. The company also acquired 140 Proof, Inc., a social and mobile targeting company, for an all-cash deal of up to $20 million USD. The company announced the opening of its sales office in London in February 2017.
7. BTL Group (TSXV:BTL)
BTL Group is in the business of blockchain technology, offering blockchain solutions with a focus on companies in finance, energy and gaming.
The company has offices in North America and even in the United Kingdom with an aim to position itself at the top of the blockchain ecosystem.
On April 6, BTL Group announced the closing of a non-brokered private placement for gross proceeds of just over $3 million.
8. OPSENS (TSX:OPS)
OPSENS operates in the interventional cardiology, industrial and oil and gas markets. In interventional cardiology, the company offers OptoWire II, an optical-based pressure guideware.
OPSENS also develops, manufactures and installs fiber optic sensing solutions for various applications, such as the monitoring of oil wells. The company’s optical-based sensors measure temperature and pressure in oil wells that use steam-assisted gravity drainage technology.
While the company made the 2016 TSX Venture 50, OPSENS graduated to the TSX Exchange at the end of February.
9. Symbility Solutions (TSXV:SY)
Symbility Solutions is in the business of helping to ‘modernize’ industries with secure cloud-based, mobile-enabled software.
On April 11, the company released its full year 2016 financial results. Highlights of the results included record revenue for Q4 2016 at $9.0 million, up from $8.1 million for the same period from the previous year.
10. Photon Control (TSXV:PHO)
Rounding out the list is Photon Control, a company that designs, manufactures and distributes a wide range of optical sensors & instruments to measure temperature, pressure, position, and flow.
The company recently announced the closing of a transaction with Photon Control R&D, giving Photon ownership of all intellectual property, products, trademarks and other assets previously under dispute, and currently owned by R&D.
This article was originally published on February 28, 2016.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.