Intrusion Inc (NASDAQ:INTZ) Stock Soars From The Recent Slump: What Next?
On Tuesday, the Intrusion Inc (NASDAQ:INTZ) stock emerged as one of the biggest gainers and ended the day with gains of as much as 52%. Although the gains recorded by the company are highly attractive, it should also be noted that there was no news about the company that might have brought about such a rally.
That being said, it is necessary to keep in mind that last week the company had announced the preliminary revenues figures for the second fiscal quarter. Intrusion announced that it expects its revenues for the quarter to be in the $1.9 million to $2 million range.
However, that is not all. There are other factors that might be at play behind this rally as well. The company believes that it is going to need more capital in order to fulfil its growth targets. In order to raise more capital, Intrusion has hired the services of an investment bank.
The investment bank is going to provide an evaluation of a range of funding sources and also provide Intrusion with strategic options that could provide the company with long term solutions. These factors might have led to the rally in the stock on Tuesday and it remains to be seen if he Intrusion stock can maintain the momentum today.
Market Reaction:
On Tuesday, INTZ stock soared 52% at $5.14 with more than 78.18 million shares, compared to its average volume of 397k shares. The stock has moved within a range of $3.35 – 7.25 after opening the trade at $3.35. Over the past 52-week, the stock has been trading within a range of $3.33 – 29.90.
