5 Top Weekly NASDAQ Tech Stocks: Index Dips Again

- May 13th, 2018

Which NASDAQ tech stocks gained the most last week? Red Violet Inc, Integrated Media Technology, Determine Inc, Netsol Technologies and Perion Network took the top spots.

The NASDAQ Composite (INDEXNASDAQ:.IXIC) started off last week at 7,429.45 on Monday (May 14) and had a major dip on Tuesday where the index fell to 7,323.25 points before recovering to the current trading levels of 7,362.04 points as of 1.56 p.m., on Friday (May 18).

The NASDAQ 100 Technology Index (INDEXNASDAQ:NDXT) started of at 4329.44 points on Monday and faced a similar dip on Tuesday (May 15) to a level of 4,253.57 points. The index recovered there on to the highs of 4,323.96 points on Thursday before taking a dip to the levels of 4,256.64 points as of 2:06 p.m. EST on Friday .

One of the biggest pieces of news in tech sector last week came on Friday when Apple (NASDAQ:AAPL) paid EU$1.5 billion euros in first instalment of the EU$13 billion euros it has to pay to Ireland government in the disputed taxes case. It was also announced on Friday that Cambridge Analytica filed for bankruptcy in United States in the aftermath of the Facebook (NASDAQ:FB) scandal.

Meanwhile, shares of a number of small-to-micro-cap companies were on the rise last week with Red Violet Inc increasing 43 percent over a one-week period while few other stocks gained over 15 percent. The companies that had their highs include:

  • Red Violet Inc (NASDAQ:RDVT)
  • Integrated Media Technology Ltd (NASDAQ:IMTE)
  • Determine Inc (NASDAQ:DTRM)
  • Netsol Technologies (NASDAQ:NTWK)
  • Perion Network Ltd (NASDAQ:PERI)

Here’s a closer look at the companies and the factors that moved their share prices last week.

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Red Violet

Red Violet is a company that deals with data analytics and provides information solutions. The company started the week off on Monday with its announced financial results , highlighting that itotal revenue increased 112 percent while its net loss shrinked as compared to year-over-year period.

Noted above, shares of Red Violet increased more than 43 percent last week to reach $7.70 as of 2.13 p.m. EST on Friday, landing the company in first place for last week’s 5 top weekly NASDAQ tech stocks.

Integrated Media Technology

Second on our list is IMT, a company that is engaged in the investment, development and commercialization of visual technology with a focus on glasses free 3D display technology.

The company did not have any updates or news related to the increase in its stock price last week, which rose 29.72 percent to $15.02 as of 2.21 p.m. EST on Friday.

Determine

Middle of the pack on our list is Determine. Shares of the company increased 24.93 percent to trade at $1.92 as of 1.47 p.m. EST on Friday.

Determine Inc is a global provider of SaaS source to pay and enterprise contract lifecycle management solutions. The company claims that its technologies empower customers to drive new revenue, identify savings and improve compliance and mitigate risks. However, the company did not have any related news that would explain its growth over the week.

Netsol Technologies

The Calabasas based company announced its third quarter 2018 financial results on Monday, which may have resulted in its stock rising more than 20 percent last week. As of 2:28 p.m. EST on Friday, shares of the company were $5.80.

The company said that GAAP quarterly earnings per share was up 300 percent year over year. Netsol Technologies is a worldwide provider of IT and enterprise software solutions.

Perion Network Ltd

Perion Network is a global innovator in delivering digital marketing solutions for brands. The company was trading at $1.03 as of 2.35 p.m. EST on Friday, representing a 18.97 percent over the course of the week.

The company on Monday announced Eyal Kaplan as chairman of the board of directors, although it’s hard to say whether this directly impacted the company’s rising share price over 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 semi-annually. Please scroll to the top for the most recent information**

5 Top Weekly NASDAQ Tech Stocks: Index Shifts Gear

By Bala Yogesh

The NASDAQ Composite (INDEXNASDAQ:.IXIC) started off last week at 7,241.82 on Monday (May 7) and had increased to 7,380.52 as of 12:30 p.m. EST on Friday (May 11).

The NASDAQ 100 Technology Index (INDEXNASDAQ:NDXT) started off at 4,1973.72 and was also on the rise until Thursday (May 10), when it reached a weekly high of 4,309.06 before dipping down on Friday. The index was trading at 4,285.8 as of 12:33 p.m. EST on Friday.

Last week’s major tech stories involved Microsoft (NASDAQ:MSFT) and Google (NASDAQ:GOOG), which held their respective developer conferences. Both companies unveiled several new features for various apps that users will see over the course of the year.

One major highlight from Microsoft was an announcement on its AI for Accessibility program, which is geared at finding solutions for people with disabilities.

As for Google, it revealed several new features, including the much-talked-about Google Duplex, which enables Google Assistant to call and book appointments for users, among other things. Also announced was Google P, Android’s upcoming update. 

That said, last week was not all about big companies and their conferences. A number of micro-cap tech companies also made major strides during the period. The top gainer was Turtle Beach (NASDAQ:HEAR), which announced record results and saw its share price jump 166 percent over the course of the week. 

  • Turtle Beach (NASDAQ:HEAR)
  • Impinj (NASDAQ:PI)
  • Koss (NASDAQ:KOSS)
  • ZAGG (NASDAQ:ZAGG)
  • Inspired Entertainment (NASDAQ:INSE)

Here’s a closer look at the companies and the factors that moved their share prices last week.

Turtle Beach

As mentioned, Turtle Beach announced its financial results, with its share price increasing by a staggering 166.88 percent to reach $17.08 as of 1:59 p.m. EST on Friday, up from $6.23 the week prior.

The company’s net revenue increased 185 percent year-on-year to US$40.9 million, with its gross margin reaching 36.8 percent compared 15.4 percent in the same period last year. Turtle Beach’s net income went up to US$2 million or $0.16 per share compared to a net loss of US$9.9 million in Q1 2017. 

Impinj

Impinj is primarily a radio-frequency identification devices manufacturer, and is also involved in the Internet of Things. The company was trading at $17.41 as of 1:59 p.m. EST on Friday and rose 33.82 percent last week.

The company announced its financial results on Monday, reporting revenue of US$25.1 million. Impinj’s GAAP gross margin was 46.9 percent and it had a GAAP net loss of $14.4 million; that amounts to a loss of 0.68 per basic share.

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Koss

Third on the list is another headset manufacturer, Koss.  

The company announced its third-quarter results on Thursday, highlighting that its three-month net loss was $812,868 compared to a net loss of $1,117,582 for the third quarter the year prior. The company’s sales decreased 9.37 percent compared to the year-ago period.

Shares of Koss increased 33.03 percent last week to reach $2.46 as of 1:59 p.m. EST on Friday.

ZAGG

Next is ZAGG, a global leader in accessories and technologies that empower mobile lifestyles.

The company announced its financial results on Tuesday (May 8), reporting that its net sales increased 21 percent year-over-year. ZAGG had net sales of US$112.1 million and gross profits of 34 percent with a net income of $7 million; that compares to a net loss of $6.1 million in the same period last year.

The stock was trading at $14.70 as of 1:59 p.m. EST on Friday, representing an increase of 27.66 percent over the five-day period.

Inspired Entertainment

Closing out our list is Inspired Entertainment, a global games technology company that supplies virtual sports, mobile gaming and server-based gaming systems with associated terminals. 

Last week, the company announced its financial results for the quarter ended March 31, reporting that revenue increased 33.5 percent compared to the same period last year. Its net loss fell significantly from $9.1 million to $0.5 million.

Inspired Entertainment was trading at $6.25 as of 1.59 p.m. EST on Friday after experiencing an increase of 25 percent throughout the trading 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.

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