NQ Mobile Inc. Up 14% In Recent Days Ahead Of Q4 Report

NQ Mobile Inc.

shares have gained 14 percent in the past week ahead of the Chinese mobile service provider's expected fourth-quarter results and conference call later today. The troubled company made headlines in December with its last quarterly report, when short-seller Carson Block crashed its conference call under an assumed name. Carson, who had accused NQ of fraudulent accounting, asked for information on the whereabouts of NQ founder Henry Yu Lin, who had recently resigned as chief executive. After cutting off Carson, managers said Lin resigned for personal reasons unrelated to the company. The sole analyst who continues to follow NQ, Topeka's Frederick Ziegel, expects the company will post adjusted fourth-quarter earnings of $0.02 cents a share, on revenue of $83 million. Ziegel maintains a Buy rating and $8.50 target. NQ changed hands recently at $ 4.02, down $0.02 cents. Although the shares have been rising recently, the company is off 80 percent in the past 12 months amid Carson's fraud allegations, delays in its financial reports and management turmoil. Short interest amounts to about 6 percent of the company's public float, down from nearly 8 percent last summer.