5 Top Weekly NASDAQ Tech Stocks: Index on the Rise

The NASDAQ Composite (INDEXNASDAQ:.IXIC) started off last week at 7,133.95 points. It touched a low of 7,000.54 points during the period, but recovered to trade at 7,197.9 points as of 1:46 p.m. EST on Friday (May 4).

The NASDAQ 100 Technology Index (INDEXNASDAQ:NDXT) started off at 4,110.65 points last week and was trading at 4,168.77 points as of 1:50 p.m. EST on Friday.

One of the major tech stories of the week happened in Asia, with Xiaomi filing in Hong Kong for the world’s biggest IPO since 2014. Bloomberg expects the company to raise at least $10 billion, with its business expected to be valued at $100 billion. 

Another big story came from Facebook (NASDAQ:FB), which launched a number of new features across its product portfolio at a conference for its developers.

Against that backdrop, a number of micro-cap tech stocks also made moves last week, with the five top gainers on the NASDAQ enjoying share price increases of over 20 percent: 

• Turtle Beach (NASDAQ:HEAR)
• BroadVision (NASDAQ:BVSN)
• Atomera (NASDAQ:ATOM)
• The Meet Group (NASDAQ:MEET)
• Dropcar (NASDAQ:DCAR)

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

Turtle Beach

Turtle Beach has 116 employees with a market cap of US$69.38 million. It was founded in 1975, and merged with Voyetra in 1995; in 2014, it merged with Parametric Sound. The company claims to have been revolutionizing console multiplayer gaming since the very beginning with its wide selection of industry-leading, award-winning gaming headsets.

Turtle Beach grew over 28.72 percent over the course of last week and was trading at US$6.23 as of 1:50 p.m. EST on Friday. On Tuesday (May 1), the company announced that it is expanding and extending its partnership with Optic Gaming. The following day, Turtle Beach announced the date for its Q1 results release. The stock has a “buy” rating on TradingView.

BroadVision

Second on the list is BroadVision, a company that provides social business solutions that focus on people and how they work. The company claims to be a group of communications and technology experts with a passion for revolutionizing business through collaboration.

Founded in 1993, the company has been a publicly traded corporation since 1996. BroadVision has 163 employees with a market cap of US$10.47 million.

The stock was being traded at US$2.75 as of 1:50 p.m. EST on Friday. The stock gained 25.29 percent over the course of the week, but the company did not announce any significant news that would explain the price rise. TradingView has a “buy” rating on the stock.

Atomera

Atomera has developed Mears Silicon Technology, which it claims increases performance and power efficiency in semiconductor transistors. With just over 15 employees and with a market cap of US$64.27 million, the stock was trading at US$6.30 as of 1:50 p.m. EST on Friday.

On Thursday, the company provided its first-quarter results, reporting a net loss of US$3.1 million, but said that it has 17 engagements with 14 customers. TradingView has a “strong buy” ranking on the stock.

The Meet Group

The Meet Group provides a social networking platform for iPhone and Android mobile devices, iPads and other devices. Meet Group gives its users a variety of ways to connect with other people through live video or discussions. Its social networking brands include: Meet Me, Lovoo, Skout, Tagged and hi5.

It has a market cap of US$166.41 million and was trading at US$2.81 as of 1:50 p.m. EST on Friday.

The company announced its Q1 results on Wednesday (May 2), reporting total revenue of US$37.6 million, up 88 percent year-over-year. Meet Group had a GAAP net loss of US$4.2 million and its adjusted EBITDA was US$5.2 million, up 9 percent year-over-year.

Dropcar

Founded in 2015, Dropcar is a cloud-based platform and mobile app that helps consumers and automotive-related companies reduce the cost, hassles and inefficiencies of owning a car, or fleet of cars, in urban centers. It is a valet parking service company that lets users pick a professional driver either on a hourly basis or on a monthly basis to be with their car and drive it back to them when they need it.

With a market cap of US$2.91 million, the company made its debut on the NASDAQ earlier in the year and is currently trading at US$1.97 with a “neutral” rating on TradingView. The company did not announce any significant news to explain its weekly gain of 20.74 percent.

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Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close 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.