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5 Top Weekly NASDAQ Tech Stocks: Index Inches Up
Which NASDAQ tech stocks gained the most last week? Seven Stars Cloud Group, Lantronix, Koss, AGM Holdings and Inseego gained the most in a quiet week.
The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started last week at 7,834.37 points on Monday (August 20) and inched higher to reach 7,945.76 points as of 12.49 p.m EST on Friday (August 24).
Meanwhile, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 7,393.58 points on Monday and reached 7,484.24 points as of 12.50 p.m. EST on Friday.
On Tuesday (August 21), Tinder, a product of Match Group (NASDAQ:MTCH), rolled out a college only service, called Tinder U. Users who want the service need to register using an.edu mail address and must be geolocated on campus.
Daily Mail on Friday reported that unreleased version of Google’s (NASDAQ:GOOGL) Pixel 3 is being sold for US$2,000. The phone has been revealed extensively by Ukrainian leakers and it’s believed that the pre-production units have been stolen from Google.
Meanwhile, shares of over 116 small and mid-cap companies have gained over the last five day trading period with the top stock being Seven Stars Cloud Group (NASDAQ:SSC) that increased 185 percent. The top five NASDAQ tech stocks include:
- Seven Stars Cloud Group
- Lantronix (NASDAQ:LTRX)
- Koss (NASDAQ:KOSS)
- AGM Holdings (NASDAQ:AGMH)
- Inseego (NASDAQ:INSG)
Seven Stars Cloud Group
Seven Stars Cloud Group, a global technology firm focusing on digital asset production and distribution, is the top stock of the week, trading at US$5.65 as of 1.27 p.m. EST on Friday.
The company, which relies on fintech and digital asset production and services based ecosystem, on Monday announced that it signed a three year US$24 billion agreement with National transportation Capacity to issue income lease financing based products. The company said that the market size for the mandatory replacements and upgrades in China is estimated to be approximately US$145 billion.
Lantronix
Shares of Lantronix rose over 50 percent over the trading week to reach US$5.55 as of 1.30 p.m. EST on Friday.
The company, which is a global provider of secure data access and management solutions for the industrial Internet of Things (IoT), gained after announcing its fourth quarter results.
On Wednesday (August 22), the company reported that it had a growth of nine percent for Q4 of fiscal 2018 as compared to same period in 2017. The company reported a net revenue of US$12 million.
Koss
Koss engages in designing, manufacturing and selling of stereo headphones and accessories. The company is known to have invented first high fidelity stereophones in 1958.
The company’s share price increased 36 percent over the five day trading period to trade at US$3.83 as of 1.30 p.m EST on Friday.
However, the company didn’t announce any specific news that explained its price hike during the five day trading period.
AGM Holdings
AGM Holdings focuses on financial technology and investment areas and combines a group of companies that services all parts of a business.
AGM Holdings gained 35 percent in the week to trade at US$19.34 as of 1.30 p.m, EST on Friday. That being said, the company didn’t provide any updates that could relate to its share price increase over the week.
Inseego
Inseego enables high performance mobile applications for large enterprise verticals. The company has a product portfolio that ranges from enterprise SaaS solutions, IoT and mobile solutions.
The company gained 19.84 percent in the week and was trading at US$3.02.
Like many other companies in the list, Inseego didn’t provide any updates that explained its share price hike in 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.
**This article is updated each week. Please scroll to the top for the most recent information**
5 Top Weekly NASDAQ Tech Stocks: Quiet Week for the Index
By Bala Yogesh, August 19, 2018
The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started last week at 7,848 on Monday (August 13) and faced a major dip on Wednesday (August 15), reaching 7,737.91.
However, the index recovered to trade at the 7,781.28 mark as of 1:00 p.m. EST on Friday (August 17).
Meanwhile, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 4,312.54 points and faced a dip like the main index on Wednesday to trade at 4,213.05 points. As of 1:02 p.m. EST on Friday, the index had settled at 4,230.85 points.
On Wednesday, TechCrunch reported that Twitter (NYSE:TWTR) had rolled out a number of API changes that restrict how third-party apps access its data. The changes affecting developers include removal of timeline streaming, and push notifications for likes, retweets and follows.
The changes were initially announced by the company in April and went live on Thursday (August 16).
Meanwhile, shares of several small and mid-cap companies gained over the course of the week, with the five stocks listed below rising around 15 percent:
- Inpixon (NASDAQ:INPX)
- JMU (NASDAQ:JMU)
- IZEA (NASDAQ:IZEA)
- GSE Systems (NASDAQ:GVP)
- Lantronix (NASDAQ:LTRX)
Here’s a closer look at those companies and the factors that moved their share prices last week.
Inpixon
The company, which is engaged in indoor-positioning analytics and developing sensors designed to anonymously find all accessible cellular, wifi and bluetooth devices, gained 24 percent last week.
The stock was trading at US$0.14 as of 1:20 p.m. EST on Friday. Inpixon did not reveal any meaningful updates for its share price rise in the week.
JMU
Formerly known as Wowo, JMU operates China’s leading online foodservice platform, providing integrated B2B services to merchants and consumers. Founded in 2014 by 42 leading foodservice companies in China, the platform connects suppliers and customers.
The stock gained 21.71 percent last week and was trading at US$1.61 as of 1:20 p.m. EST on Friday. JMU did not share any updates that would explain its share price increase.Â
IZEA
IZEA gained 21.67 percent last week and was trading at US$1.46 as of 1:20 p.m. EST on Friday.
The company engages in developing software, and connects creators with leading brands that will compensate them to produce and distribute content. With over 3 million transactions, this company’s customers range from small businesses to Fortune 50 organizations.
IZEA announced on Friday that it won several large new contracts in Q3, with the company saying in a press release that it has secured a high-six-figure influencer marketing services contract to support a product launch for a new Fortune 200 client.
GSE Systems
GSE Systems is focused on developing simulation software for clients, and is also a provider of professional and technical engineering, staffing services and simulation software.
The company announced last Wednesday that it has been awarded a US$8-million contract to update simulators in Slovakia and Korea. That likely contributed to its share price rise last week. During the period, GSE Systems rose 15 percent and was trading at US$3.45 as of 1:20 p.m. EST on Friday.
Lantronix
The company is a leading supplier of Internet of Things (IoT) solutions that enable companies to create, deploy and manage IoT projects while providing secure access to data for applications and people.
The company was trading at US$3.67 as of 1:20 p.m. EST on Friday, representing a 14.69-percent increase during the week. Lantronix announced on Monday that it has been added to LD Micro Index.
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.
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