5 Top Weekly NASDAQ Tech Stocks: MER Solutions Gains 87 Percent

- July 15th, 2018

Which NASDAQ tech stocks gained the most last week? MER Telemanagement Solutions, CODA Octopus Group, Datawatch, AMERI Holdings and NXT-ID gained the most.

The NASDAQ Composite (INDEXNASDAQ:.IXIC) and NASDAQ Technology (INDEXNASDAQ:NDXT) Index followed a similar pattern as to last week with the indexes facing a dip on one day but otherwise continued to make gains through the week.

The NASDAQ Composite started the week at 7,831.74 points on Monday (July 16) and faced a dip on Tuesday (July 17) when the index was at 7,751.97 mark before recovering to trade at 7,839.10 points as of 12.51 p.m. EST on Friday (July 20).

The NASDAQ Technology started the week at 4,3282.88 points on Monday and dipped to 4,341.36 mark on Tuesday. The index recovered in the week and was trading at 4,397.10 points as of 12.54 p.m. EST on Friday.

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One of the crucial story of the week was Microsoft’s (NASDAQ:MSFT) fourth quarter results on Thursday (July 19), with the company reporting a revenue of US$30.1 billion, a 17 percent increase year-over-year. The company’s net income was US$8.9 billion which was an 35 percent increase year-over-year. Crucial growth verticals for the company were its server and cloud revenue with Azure alone reporting an 89 percent revenue growth. It has to be noted that most of the company’s verticals recorded an impressed performance including its Surface portfolio which jumped 25 percent year-over-year to US$1.1 billion.

Meanwhile, The Information reported on Tuesday that Walmart (NYSE:WMT) is planning to take on Netflix (NASDAQ:NFLX) and Amazon (NASDAQ:AMZN) by launching a subscription streaming service. It has to be noted that Walmart is keen to compete with Amazon on multiple fronts and The Information said that such a streaming service launch could be costly for the company but would demonstrate its determination.

The week wasn’t about big companies and their stories as several small to mid-cap companies were on the rise in the week with MER Telemanagement solutions (NASDAQ:MTSL) rising 87.97 percent in the week.

Over 100 companies in this category had posted gains with the top five mentioned below had a growth of over 15 percent.

Here are the five top weekly NASDAQ tech stocks that increased the most last week:

  • MER Telemanagement solutions
  • CODA Octopus Group (NASDAQ:CODA)
  • Datawatch (NASDAQ:DWCH)
  • AMERI Holdings (NASDAQ:AMRH)
  • NXT-ID (NASDAQ:NXTD)

MER Telemanagement solutions

Prior to last week, this company based in Israel was ranked second on our 5 Top Weekly NASDAQ Tech stocks list from the week previous and the company made it to the top spot with an over 87 percent increase last week.

Mer Telemanagement Solutions is a company that’s focused on products and services for enterprises in the area of telecom expense management and call accounting.

MTSL was trading at US$2.97 as of 1.28 p.m. EST on Friday, but did not announce any meaningful updates that explained its price hike.

CODA Octopus Group

Founded in 1994, Coda Octopus Group has patented a real-time 3D sonar technology that enables real-time 3D imaging and mapping in underwater zero visibility conditions. The company claims it product, Echoscope is used in numerous applications around the world including defense, marine construction and oil and gas surveys.

The company was trading at US$5.18 as of 1.28 p.m. EST on Friday, which increased 38.87 percent during last week’s trading period.

On Monday, the company announced that it has entered into an research and development agreement agreement with Naval Surface Warfare Center Panama City Division for real-time 3D imaging Head up Display Driver (HUD) solution.

Datawatch

Third on the list is a company that is based out of Massachusetts. The company is a data intelligence solutions provider that helps organizations to master the data for better insights.

The shares of Datawatch grew 24 percent in the week and was trading at US$12.90 as of 1.28 p.m. EST on Friday.

Datawatch reported its third quarter results on Wednesday (July 18) with the company posting a revenue of US$11.1 million which was 23 percent increase in its revenue as compared to the prior year quarter.

AMERI Holdings

Ameri Holdings, a specialised SAP cloud, digital and enterprise company that provides SAP services to customers worldwide is fourth on our list with the company gaining 19.64 percent in the week.

The company on Monday announced that it has entered Greenfield healthcare sector with MEDDATA. The agreement between the two firms will center on the implementation of the company’s UiPath’s Robotic Process Automation (RPA) solution.

The shares of the company were traded at US$1.38 as of 1.28 p.m., EST on Friday.

NXT-ID

The company that is focused on products that enables Internet of Things (IoT) is last on our list of the top gainers of the week.

The company’s products ranges from biometric and behavior-metric identity verification, security and privacy to payments and sensors technologies.

The shares of the company grew over 15 percent in the week and were traded at US$1.75 as of 1.28 p.m., EST on Friday.

Although, the company themselves haven’t announced any particular update, its subsidiary LogicMark on Friday announced that it will attend the 119th VFW National convention. LogicMark said that it will be an opportunity for the company to highlight safety and security products for veterans.

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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