The NASDAQ Composite (INDEXNASDAQ:.IXIC) was on the plus last week, rising again by 1.43 percent to 6,889.16 points at market Close on Friday (November 24). The story is similar for the NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT), which gained 1.19 percent to hold steady over 4,000 points to close at 4,094.04 on Friday’s close.
On Friday Reuters reported that tech stocks led the way for the S&P 500 as well as NASDAQ to “record high closes” on Black Friday bolstered by holiday seasonal shopping.
With that in mind, microcap tech stocks also made gains last week, including:
- Avid Technology (NASDAQ:AVID)
- Iteris (NASDAQ:ITI)
- Mitek Systems (NASDAQ:MITK)
- Meet Group (NASDAQ:MEET)
- Sify Technologies (NASDAQ:SIFY)
Here’s a closer look at those companies.
First on our top weekly NASDAQ tech stocks list is Avid Technology, a company that develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.
More specifically, Avid’s products are used in a variety of entertainment-related industries, such as: film studios, networks, affiliates, independent and cable television stations, recording studios, and so on.
Over the trading week, shares of Avid Technology rose 24.66 percent to reach $7.38 at Friday’s close, although there was no company news during the week to relate to its share price increase.
Next is Iteris, a company that provides information solutions for traffic management and global agribusiness markets.
Similarly, Iteris also didn’t have any related company news during the trading week, although that didn’t stop its share price from rising 15.89 percent over the week to $6.49. According to publication Post Analyst, a number of analysts suggest Iteris is a “strong buy” while zero say suggest it is a hold.
Middle of the pack on our 5 top weekly NASDAQ tech stocks list is Mitek Systems, a company in the business of developing, selling, and marketing mobile capture and identify verification software solutions with a focus on mobile banking. Mitek’s main products include Mobile Verify, Mobile File, Mobile Docs, Mobile Deposit and Commercial Mobile Deposit Capture.
Much like the two companies above, Mitek Systems did not have any news during the trading period related to its rising share price. Over the trading period, shares of Mitek Systems increased 11.56 percent to close at $9.65 on Friday.
Next we have Meet Group, a company that includes a portfolio of various mobile applications. Meet Group also provides online marketing capabilities that allows marketers to showcase their ads in a number of different formants in different locations.
Similarly, Meet Group also did not have any news during the trading period. That said, its share price increased 9.8 percent last week to $2.69 despite reporting disappointing Q3 earnings two and a half weeks ago.
Sify Technologies, an integrated ICT Solutions and services company based in India. Sify provides end-to-end solutions and its telecom network connects 48 data centers across the country.
Last week shares of Sify Technologies increased 6.67 percent to reach $1.60 as of 1:11 p.m. EST on Friday.
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Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and less than $500 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.