Which NASDAQ tech stocks gained the most last week? Datawatch, One Stop Systems, Ceragon Networks, Akoustis Technologies and Integrated Media Technology were the biggest risers.
The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started the week on Monday (November 5) at 7,344.08 points and reached a high of 7,571.66 points on Wednesday (November 7). The index slightly dipped in the following days to settle at 7,393.70 points as of 1.11 p.m. EST on Friday (November 9).
Similarly, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 3,966.10 points on Monday and had a high of 4,092.61 points on Thursday (November 8). However, the index faced a slight dip on Friday as it settled at 3,972.72 points as of 1.18 p.m EST.
A major tech highlight of the week was Samsung (KRX:005930) unveiling its foldable phone, a device which has been teased by the company for quite sometime now. Samsung unveiled the device on Wednesday at its developer conference which would be officially supported by Google (NASDAQ:GOOGL). Several companies including the likes of Microsoft (NASDAQ:MSFT), Lenovo (HKG:0992), Xiaomi (HKG:1810) and LG (KRX:066570) might also launch similar devices in the near future.
On the small and mid-cap side, over 83 companies made gains in the five day trading period with the top gainers including:
- Datawatch (NASDAQ:DWCH)
- One Stop Systems (NASDAQ:OSS)
- Ceragon Networks (NASDAQ:CRNT)
- Akoustis Technologies (NASDAQ:AKTS)
- Integrated Media Technology (NASDAQ:IMTE)
The company that topped the charts with a 35 percent increase over the week is Datawatch, a provider of enterprise data preparation, predictive analytics and visualization solutions.
Altair (NASDAQ:ALTR) announced on Monday the signing of a definitive merger agreement to acquire Datawatch for US$176 million. It was said that Altair would pay US$13.10 per share in cash and that the transaction was unanimously approved by boards of directors of both companies. Subsequently, Datawatch on Tuesday (November 6) cancelled its fourth quarter results and full year conference calls.
Shares of Datawatch were trading at US$13.10 as of 2.10 p.m. EST on Friday.
One Stop Systems
One Stop Systems, a company that designs and manufactures high performance computers including customized servers and other products, emerged second on our top weekly NASDAQ tech stocks.
The company announced on Wednesday that it had won four major OEM design-ins on a array of products. Furthermore, OSS announced on Thursday its third quarter results where it reported that its revenues were up 45 percent.
Shares of One Stop Systems were trading at US$3 as of 2.10 p.m. EST on Friday representing a 28 percent increase in the week.
With a 24.57 percent increase in the week, Ceragon, a company that specialises in wireless backhaul technologies, occupies the third sport.
The company announced on Monday its third quarter results where it reported revenue increase of 13.9 percent as compared to the same period the year previous.
Cergaon was trading at US$4.31 as of 2.10 p.m. EST on Friday.
Akoustis Technologies, a company that is a manufacturer of patented bulk acoustic wave (BAW) is fourth on the list.
Shares of Akoustis gained 23.54 percent in the week and were trading at US$4.67 as of 2.10 p.m. EST on Friday.
The company provided on Monday a management update where it announced that its CFO John Kurtzweil would be leaving Akoustis. It was clarified that Kurtzweil was not leaving the company due to any disagreements with the company and that it has appointed Kenneth Boller as an interim CFO.
Integrated Media Technology
IMTE, a company engaged in the development and commercialization of visual technology with a focus on glasses free 3D display technology takes the final spot on the list.
The stock with gains of 23.28 percent in the week was trading at US$7.06.
However, the company did not published any updates that could explain its price hike over the week.
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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.