Which mobile stocks have performed the best so far this year? Here’s a look at the top NASDAQ mobile stocks year-to-date.
During the first quarter of 2019, the sector witnessed the launch of devices like Samsung’s (KRX:005930) foldable phone and devices capable of handling 5G networks, the next generation service that is capable of providing higher data speeds.
While big companies in the space grabbed the spotlight with these device and service releases, plenty of companies in the small- and mid-cap space also made headlines in the quarter.
On that note, the Investing News Network takes a look back at which companies were the biggest gainers on the NASDAQ in the mobile space in Q1 2019.
The companies listed below have market caps between US$50 million and US$500 million, and all numbers and figures were current as of April 9, 2019. The list was generated using CapitalCube’s stock screener.
1. Wrap Technologies (NASDAQ:WRTC)
Market cap: US$193.74 million; year-to-date gain: 119.05 percent; current share price: US$7.08
Wrap Technologies, the company behind the handheld BolaWrap 100 restraint device, is the top gaining NASDAQ mobile stock year-to-date.
The BolaWrap 100 device releases an 8 foot Kevlar capable of tangling an individual within a range of 25 feet. It is targeted at the law enforcement and security communities. In January, the company announced that its pilot program to showcase its BolaWrap 100 device was a success and that the device had been delivered to over 45 agencies. In March, Wrap Technologies announced that over 50 US police departments have received training to use the device.
2. AudioCodes (NASDAQ:AUDC)
Market cap: US467.5 million; year-to-date gain: 62.55 percent; current share price: US$15.93
AudioCodes focuses on the design and manufacturing of advanced voice over internet protocol (VoIP) and data networking products and applications. Its noteworthy products include VocaNom, a cloud-based voice communication application, and SmartTap, a software that enables call recording.
The company kicked off the year by announcing that Swisscom (OTC Pink:SWZCF,SWX:SCMN), a telecom provider in Switzerland, has chosen to use an AudioCodes product to set up direct routing services for its business customers.
In February, the company announced a partnership with Jabra to aid enterprises in setting up communication products.
3. Tessco Technologies (NASDAQ:TESS)
Market cap: US$158.93 million; year-to-date gain: 53.08 percent; current share price: US$18.78
Tessco Technologies is engaged in the distribution and manufacturing of solutions for its commercial and retail customers in the wireless infrastructure and mobile accessories spaces.
Tessco had a fairly active first quarter of 2019. The company’s major news included the addition of JLab Audio accessories to its portfolio and an agreement with Anritsu (TSE:6754) that enables Tessco to distribute test and measurement equipment from the company.
4. Airgain (NASDAQ:AIRG)
Market cap: US$138.81 million; year-to-date gain: 33.7 percent; current share price: US$13.84
Fourth on the list is Airgain, a company that deals with embedded antenna technologies used in wireless networks and systems. These include set top boxes, access points and routers.
In March, the company introduced a set of 5G antenna solutions that enable its customers to add 5G support to their existing wireless infrastructure.
5. Aerohive Networks (NASDAQ:HIVE)
Market cap: US$244.71 million; year-to-date gain: 33.13 percent; current share price: US$4.38
Aerohive Networks’ prime product is a network management platform for wireless cloud networking geared towards making network operations easier for its customers.
The company provided numerous updates throughout the quarter, including news on its global expansion plans. In March, the company announced that it had opened its Regional Data Center in Sweden, a move that expands the company’s global presence to 11 countries.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.