The NASDAQ Composite (INDEXNASDAQ:.IXIC) had a rollercoaster week, starting at 6,971 points on Monday (April 9) and recovering to 7,140.85 points as of 1:52 p.m. EST on Friday (April 13).
The NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT) had a similar ride, beginning at 4,048.5 points on Monday before dipping to 4,041 points and reaching 4,194.16 points as of 1:59 p.m. EST on Friday.
The week started off with Apple (NASDAQ:AAPL) releasing new Product Red iPhones. That helped the company stay in a positive light before a new report from Bloomberg stated that its HomePod was a dud in sales. Much of the focus in the tech sector was on Facebook (NASDAQ:FB) and its CEO Mark Zuckerberg appearing before Congress.
Against that backdrop, a number of micro-cap tech stocks had a solid week. The top five stocks listed below grew more than 10 percent over the course of the week:
- CYREN (NASDAQ:CYRN)
- Meet Group (NASDAQ:MEET)
- RealNetworks (NASDAQ:RNWK)
- Simulations Plus (NASDAQ:SLP)
- eGain (NASDAQ:EGAN)
Here’s a closer look at those companies and the factors that moved their share prices last week.
The stock grew 25 percent over the course of the week and was trading at $3.03 as of 1:59 p.m. EST on Friday. The company claims to have 1.3 billion users in the world who depend on its cloud internet security solutions.
What may have moved CYREN’s share price last week was its Thursday (April 12) announcement that it has secured a multimillion-dollar contract from a tech company. On Monday, CYREN launched a new capability for enterprises to combat threats related to cryptocurrency mining and impostor email attacks.
Shares of Meet Group increased 15.63 percent last week to reach $2.24 as of 1.59 p.m. EST on Friday.
Meet Group is a company that provides a social networking platform on iPhone and Android mobile devices, iPads and other devices. Meet Group gives its users a variety of ways to connect with other people through live video or discussions. Its social networking brands include: Meet Me, Lovoo, Skout, Tagged and hi5.
On Monday, Meet Group announced the rollout of tagged live streaming on its shared platform, while reporting strong gains in key video metrics. That may have catapulted its share price over the week.
The company creates innovative applications and services that help users to connect with and enjoy their digital media.
Shares of RealNetworks moved over 12.5 percent during the week and were trading at $3.12 as of 1:59 p.m. EST on Friday. The company did not have any news that would explain its share price growth over the five-day trading period.
Simulation Plus is a company that develops drug discovery and development software. The company announced record second-quarter revenue on Monday, reporting a jump of 28.9 percent to $7.4 million. The stock was trading at $16.85 as of 1:59 p.m. on Friday and increased 11.48 percent over last week’s trading period.
eGain, a company that provides cloud-based and on-site customer engagement software solutions, jumped over 10 percent over the course of the week.
It announced on Wednesday (April 11) that it was selected by Paylocity to help guide its customer service to fast, accurate and consistent answers. It was trading at $8.68 as of 1:59 p.m. on Friday.
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Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and less than $500 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.
Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.