5 Top Weekly NASDAQ Tech Stocks: Gridsum Leads with 27 Percent Gain

- April 28th, 2019

Which NASDAQ tech stocks gained the most last week? We run through the five biggest gainers in this article.

The NASDAQ Composite Index (INDEXNASDAQ:IXIC) started the trading session last Monday (April 22) at the 7,969.37 mark and settled at 8,108.42 as of 1:42 p.m. EDT on Friday (April 26).

Meanwhile, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week on Monday at 4,795.93 and settled at 4,816.9 as of 1:42 p.m. EDT on Friday.

On Thursday (April 25), Verizon (NYSE:VZannounced that its 5G services will be rolled out to 20 additional cities in 2019. Further, the company announced introductory offers for Samsung’s (LSE:SMSN) Galaxy S10 5G variant, which is said to be an exclusive device for the carrier for a certain time.

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Ford (NYSE:F) on Wednesday (April 24) announced a US$500 million investment and a strategic partnership with electric vehicle (EV) maker Rivian. Through the partnership, Ford is set to build a new EV based on Rivian’s design platform.

In the small- and mid-cap space, over 100 companies gained in the week, with Gridsum Holding (NASDAQ:GSUM) topping the list with a 27.97 percent increase. This week’s top risers are:

  • Gridsum Holding
  • Reebonz Holding (NASDAQ:RBZ)
  • Taitron Components (NASDAQ:TAIT)
  • Axt (NASDAQ:AXTI)
  • Global Eagle Entertainment (NASDAQ:ENT)

Gridsum Holding

Gridsum is engaged in cloud-based big data analytics and artificial intelligence solutions.

The company released its 2018 financial results on Wednesday, reporting an 8 percent decrease in its net revenues. The firm reported RMB 431.2 million for 2018, and said that the year was a challenging one for the company. However, Gridsum expects to stabilize its core business and is expecting to regain its momentum for 2019.

Gridsum settled to trade at US$3.66 as of 2:00 p.m. EDT on Friday.

Reebonz Holding

Reebonz, a company focused on its online marketplace in Asia, gained 25.69 percent in the week and settled to trade at US$6.85 as of 2:00 p.m. EDT on Friday.

The company announced that the firms Roth Capital and Maxim Group, both of which acted as managers for Reebonz’s public offering, have now exercised their options to purchase shares. Reebonz said that the book managers purchased over 300,000 additional shares, which works out to US$1.6 million in gross proceeds.

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Taitron Components

An original design manufacturer of electronic components, Taitron gained over 20.59 percent and settled to trade at US$3.69 as of 2:00 p.m. EDT on Friday.

The company runs two divisions in China and Taiwan and its pioneer offerings include semiconductors. Taitron did not announce any significant updates that would explain its price hike last week.

AXT

This China-based company that offers single crystal compound semiconductor elements gained 20 percent in the week, with its stock settling to trade at US$5.70 as of 2:00 p.m. EDT on Friday.

On Wednesday, AXT announced its 2019 first quarter results, where it reported revenues of US$20.2 million. On a comparative scale, the company reported US$22.2 million in the fourth quarter and US$24.4 million for the first quarter of 2018.

Global Eagle Entertainment

Global Eagle Entertainment gained 18.07 percent in the week, with the stock settling to trade at US$0.64 as of 2:00 p.m. EDT on Friday.

The company is focused on media and content delivery across multiple products, including inflight entertainment. Global Eagle didn’t announce any major news would explain its share price jump.

Don’t forget to follow us @INN_Technology for real-time news updates!

Data for the 5 Top NASDAQ Tech Stocks articles is retrieved each Friday at 12:00 p.m. EDT using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. Companies within 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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**This article is updated each week. Please scroll to the top for the most recent information**

5 Top Weekly NASDAQ Tech Stocks: Gogo Jumps Over 20 Percent

By Charlotte McLeod, April 21, 2019

The NASDAQ Composite Index (INDEXNASDAQ:IXIC) and NASDAQ Technology Index (INDEXNASDAQ:NDXT) both closed flat last Thursday (April 18) at 7,998.06 and 4,813.08, respectively.

In the news this past week, Apple (NASDAQ:AAPL) and Qualcomm (NASDAQ:QCOMsettled a dispute, Samsung’s (KRX:005930) Galaxy Fold encountered issues and Facebook (NASDAQ:FB) CEO Mark Zuckerberg was under the microscope.

Smaller players also made headlines. The NASDAQ-listed tech stocks with the biggest share price gains last week are as follows:

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  • Gogo (NASDAQ:GOGO)
  • RADCOM (NASDAQ:RDCM)
  • Super League Gaming (NASDAQ:SLGG)
  • Immersion (NASDAQ:IMMR)
  • Identiv (NASDAQ:INVE)

Here’s a look at what moved their share prices during the period.

Gogo

In-flight internet company Gogo saw its share price increase 21.88 percent last week, closing at US$5.07. The firm released its preliminary financial results for Q1 on Monday (April 15), reporting consolidated revenue of US$197 million to $200 million and a consolidated net loss of US$17 million to US$20 million.

President and CEO Oakleigh Thorne described the company’s adjusted earnings before interest, tax, depreciation and amortization as “much better than expected.” Gogo’s complete Q1 financial results will come out before the market opens on May 9.

RADCOM

RADCOM helps telecommunications companies across the globe ensure that they are offering quality service to their customers. Using three components — RADCOM Service Assurance, RADCOM Network Visibility and RADCOM Network Insights — the company allows these firms to better understand their customers’ needs and experiences.

Last week, RADCOM did not release any news, but its share price rose 11.64 percent to hit US$8.73. It will be sharing its Q1 financial results on May 7.

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Super League Gaming

Super League Gaming partners with well-known game creators to operate in-person and online gaming leagues. The company currently runs 16 city clubs in four regions of the US.

Last week, Super League announced a partnership with ggCircuit, an esports center services company. Under the agreement, events put together by Super League will be run out of esports centers operated by ggCircuit. The news sent Super League’s share price up 9.82 percent to finish the week at US$7.16.

Immersion

Focused on touch technology, Immersion aims to help its customers economically add touch capabilities to a variety of products, including cars, mobile devices and internet of things technology.

The company did not put out any news last week, but its share price increased 7.1 percent to reach US$9.20. Its latest news came on April 9, when it signed a deal that allows Alpine Technology to use its touch feedback technology for touchscreens in vehicles.

Identiv

Identiv serves a variety of customers around the world, helping them keep places, people, data and objects secure. With a focus on both the physical and the “internet of everything,” the company’s solutions range from physical access control to smart card readers.

Last week, Identiv’s share price rose 4.7 percent to end at US$4.90. During the period, the company announced that its board has nominated Robin R. Braun as a director.

Don’t forget to follow us @INN_Technology for real-time news updates!

Data for the 5 Top NASDAQ Tech Stocks articles is retrieved each Friday at 12:00 p.m. EDT using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. Companies within the technology sector are considered.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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