The past few days have been quite volatile for the Spectrum Global Solutions Inc (OTCMKTS:SGSI) stock and it might be a good time for investors to delve a bit deeper into it.
Market Reaction
On Tuesday, SGSI stock gained 5.13% to $0.41 with more than 501k shares, compared to its average volume of 537k shares. The stock has moved within a range of $0.3700 – 0.4300 after opening trade at $0.40.
Latest News
Yesterday, the stock seemed to have attracted the attention of investors on Tuesday and ended the day with gains of 5%. However, at the same time, it cannot be denied that in the past week, the Spectrum Global stock is down by as much as 17%. While the movement in the Spectrum Global stock is certainly of interest, it is also true that there has been no news about the company for a long time.
The last time that the company was in the news was back on August 27 this year when Spectrum Global announced its financial results for the second fiscal quarter. The company noted at the time that shareholder equity, inclusive of Series D preferred stock, soared to $11.74 million in the quarter from only $1 million in the prior year period. The pro forma revenues for the period stood at $10.8 million while the pro-forma net income came in at $1.161 million. At this point, it might be a sound move for investors to keep a close eye on any fresh news about Spectrum Global.
Traders Review
SGSI stock is trading below the 20-Day and 50-Day Moving averages of $0.48 and $0.45 respectively. However, the stock is trading above the 200-Day moving average of $0.33. The stock is up 57% over the past 3-month.
