This week’s NASDAQ top gainer in the Computer Software & Processing sector was Hutchinson Technology, followed by FunctionX, Cinedigm, Top Image Systems, eFuture Holding.
The NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT) fell slightly last week, down 0.87 percent to 2,730.38 points.
Here is a look at how last week’s top gainers in the computer software and processing industry performed:
- Hutchinson Technology (NASDAQ:HTCH)
- Function(x) Inc. (NASDAQ:FNCX)
- Cinedigm Corp. (NASDAQ:CIDM)
- Top Image Systems (NASDAQ:TISA)
- eFuture Holding (NASDAQ:EFUT)
The highest gainer of the week was Hutchinson Technology, which saw a 192.65 percent gain over the five day trading period to finish the week at $3.98 per share.
Hutchinson is a global supplier of critical precision component technologies, helping customers improve overall disk drive performance. Last week, the company announced that the US Federal Trade Commission granted early termination of the waiting period for the proposed merger of HTI with and into a wholly-owned subsidiary of TDK Corporation. The merger is expected to close no later than October 5, 2016.
FunctionX gained 49.27 percent over the five day trading period to finish the week at $6.12 per share.
FunctionX is an online media and technology company that operates Wetpaint.com and and Rant, a leading digital publisher with original content in 13 different verticals, most notably in sports, entertainment, pets, cars and food. On September 16, the company announced a reverse stock split of its shares of common stock to enable FunctionX to regain and maintain compliance with the minimum closing bid price of $1.00 per share for continued listing on The Nasdaq Capital Market.
Cinedigm gained 22.16 percent over the five day trading period to finish the week at $2.15 per share.
Cinedigm is a New York-based movie and television distributor and servicer of digital cinema assets. Last week, Cinedigm announced that it sold $2.5 million principal amount of loans and 245,000 shares of the Company’s Class A common stock.
Top Image Systems
Top Image Systems gained 15.76 percent over the five day trading period to finish the week at $2.35 per share.
Top Image Systems is focused on enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Last week, the company announced its listing as a vendor in numerous asset classes in Gartner’s “IT Market Clock for Mobile Imaging for Banks, 2016.” The asset classes include New Account Opening, Add New Payee from Paper Bill and Document Capture for Loan Applications.
eFuture gained 13.76 percent over the five day trading period to finish the week at $6.16 per share.
eFuture is a software and solution provider, as well as a mobile business enabler to China’s retail and consumer goods industries. eFuture went soaring on September 23 after it announced a merger with with Shiji (Hong Kong) Limited and eFuture CI Limited. Both companies are indirect, wholly-owned subsidiaries of Beijing Shiji Information Technology Co Ltd.
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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, Pia Rivera, hold no direct investment interest in any company mentioned in this article.