5 Top Weekly NASDAQ Tech Stocks: Ability Gains Over 50 Percent

The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started last week at 7,809.54 on Monday (August 6) and gained through the week to hit the 7,922.52 mark on Thursday (August 9). It dipped to settle at 7,851.5 as of 1:37 p.m. EST on Friday (August 10).

Meanwhile, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 4,356.52 and stayed relatively flat through the week before dipping late on Thursday. The index had reached the 4,305.4 mark as of 1:37 p.m. EST on Friday.

One of the major highlights of the week was Samsung’s (KRX:005930) introduction of the Note 9. Samsung also said that it has entered into a long-term partnership with Spotify (NYSE:SPOT). From phones to speaker, Spotify will be part of Samsung and will be the default music option for Bixby, Samsung’s virtual assistant. 

Further, Fortnite, a popular online game from Epic Games, is launching as an exclusive to Samsung Galaxy devices for the time being. The most notable highlight of Fortnite entering the Android ecosystem is that the game will bypass Google’s (NASDAQ:GOOGL) Play Store. It’s being reported that Google could lose US$50 million on platform fees.

The other major news of the week was from Tesla (NASDAQ:TSLA) CEO Elon Musk, who tweeted that he intends to take the company private. The tweet received a polarizing response, and the Washington Post reported that the US Securities and Exchange Commission (SEC) is examining Musk’s statement and why such a disclosure was made on Twitter (NYSE:TWTR) instead of via a filing.

That said, the week was not all about big players and companies, with several small and mid-cap firms posting their second-quarter results. Over the course of the week, 96 stocks in this category gained, with the top five stocks listed below all growing over 20 percent. Ability (NASDAQ:ABIL) emerged as a top performer, gaining 58.94 percent during the week. The other top gainers are as follows:

• Ability
• Inseego (NASDAQ:INSG)
• Technical Communications (NASDAQ:TCCO)
• Airgain (NASDAQ:AIRG)
• AMERI Holdings (NASDAQ:AMRH)

Ability

Founded by a team of military and communications experts, Ability specializes in intercepting cellular and satellite communications networks; its products are restricted to authorized government agencies.

In a statement filed with the SEC, the company said it plans to offer US$50 million worth of its ordinary shares in one or more offerings. The stock gained 58.94 percent over the course of the week and was trading at US$4.68 as of 2:00 p.m. EST on Friday.

Inseego

Inseego, a global provider of software-as-a-service and internet of things technology, enables high-performance mobile applications for large enterprises around the world.

Last Monday, the company completed a US$19.7-million private placement, with the prime investor being an affiliate of Tavistock Group, an international private investment firm. The stock gained over 40 percent during the week and was trading at US$2.73 as of 2:00 p.m. EST on Friday.

Technical Communications

Third on the list is Technical Communications, a company headquartered in Massachusetts. The company’s share price gained 28.57 percent over the course of the week and was trading at US$4.95 as of 2:00 p.m. EST on Friday.

On Monday, the company released its quarterly results, reporting net income of US$243,000 for the three-month period ended June 30, 2018. In the year-ago period the firm posted a net loss of US$344,000.

Airgain

As with other companies on this list, Airgain announced its second-quarter results on Thursday, reporting that its gross profit increased 8 percent to US$6.6 million from US$6.1 million in Q2 2017.

Airgain describes itself as a leading provider of advanced antenna technologies used to enable high-performance wireless networking on various devices and markets. The stock gained 24.34 percent during trading last week and was sitting at US$11.29 as of 2:00 p.m. EST on Friday.

Ameri Holdings

Ameri Holdings gained 20 percent over the course of last week and took the fifth spot on our list. The digital and enterprise services company, which specializes in cloud, has offices in the US and Canada.

On Friday, the company announced that it will report its second-quarter financial results on August 14. The stock was trading at US$1.71 as of 2:00 p.m. EST on Friday.

Don’t forget to follow us @INN_Technology for real-time news updates.

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday as of 12:00 p.m. EST using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. All companies in the technology sector are considered.

Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.

**This article is updated each week. Please scroll to the top for the most recent information**

5 Top Weekly NASDAQ Tech Stocks: Internap Grows 37 Percent

By Bala Yogesh, August 5, 2018

The NASDAQ Composite (INDEXNASDAQ:.IXIC) gained this week with the index starting the week at 7,735.27 points on Monday (Jul 30) and keeping momentum throughout the week. The index settled in at 7,792.44 points  of 1:37 p.m. EST on Friday (August 3).

The NASDAQ Technology (INDEXNASDAQ:NDXT) Index had a flat week, starting off at 4,367.71 points on Monday before dipping to 4,353.5 points as of 1:40 p.m. EST on Friday.

The major story of the week was Apple (NASDAQ:AAPL) reaching market cap of US$1 trillion mark cap on Thursday (August 2), making it the first US-publicly traded company to ever do so.

Earlier this week, the Investing News Network (INN), posted its July monthly update detailing some of the biggest tech stories of the month. 

Moving onto small and mid-cap companies, over 68 stocks registered a positive growth in the week with the top five listed below increasing over 20 percent during the five day trading period, including:

• Internap (NASDAQ:INAP)
• Nortech Systems (NADAQ:NSYS)
• Pixelworks (NASDAQ:PXLW)
• Transact Technologies (NASDAQ:TACT)
• Lantronix (NASDAQ:LTRX)

Here’s a closer look at the five top weekly NASDAQ tech stocks that increased in the week.

Internap

Internap, a company that provides data center services such as colocation, managed hosting, cloud and network services gained the most in the week to top the charts with a 37 percent increase throughout the five day trading period.

The company was in the news throughout the week by first announcing on Monday that it established a flagship data center in Phoenix market. On Thursday, INAP reported its second quarter results with the company’s revenues growing 17.7 percent year-over-year.

The stock was trading at US$13.19 as of 1:40 p.m. EST on Friday.

Nortech Systems

Nortech Systems, a company that is a engaged in the electronics manufacturing services (EMS) and providing complex interconnect solutions, printed circuit board assemblies and diagnostic repair, comes in second on our list.

The stock grew 27.31 percent in the week and settled in at US$4.21 as of 1:40 p.m. EST on Friday. However, the company provided no updates that could relate to its stock price increase over the week.

Pixelworks

Coming in third on our top weekly NASDAQ tech stocks list is Pixelworks, a leading provider of power efficient visual processing solutions and advanced video delivery solutions for the high quality streaming and display applications.

The company reported its second quarter results on Thursday with the Pixelworks announcing that its revenues increased 26 percent sequentially. Shares of Pixelworks rose 25.68 percent and were trading at US$4.15 as of 1:40 p.m. EST on Friday.

Transact Technologies

With a share price increase of 25 percent over the week, TransAct Technologies is fourth on the list. The company is a leader in developing software driven technology and printing solutions for high growth markets including restaurant solutions, POS automation, casino and gaming.

Transact reported its second quarter results with its net sales growing at 8 percent on a year-over-year basis. The stock was trading at US$14.45 as of 1:40 p.m. EST on Friday.

Lantronix

Taking up the final spot on the list is Lantronix, a global provider of secure data access and management solutions for the Industrial Internet of Things (IoT).

The company on Wednesday (August 1) announced a collaboration with Microsoft (NASDAQ:MSFT) to accelerate Internet of Things solutions. Lantronix said that its customers can quickly get up to speed with Microsoft Azure as its hardware and software has been pre-tested to work the tech giant.

As of 1:40 p.m. EST on Friday the stock was trading at US$3.24, representing a 23-percent increase throughout the week.

Don’t forget to follow us @INN_Technology for real-time news updates.

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday as of 12:00 p.m. EST using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. All companies in the technology sector are considered.

Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.