Benzinga's Microcap Movers for Thursday February 9, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Imperial Sugar Company
Shares of Imperial Sugar Company (NASDAQ: IPSU), the Sugar Land, TX sugar prducer, rose 79% Thursday on 14 times the average daily volume.
Imperial Sugar reported Thursday a net loss for the fiscal first quarter ended December 31, 2011 of $3.5 million, or $0.29 per share, on net sales of $227.7 million. Results for the same period of the prior fiscal year were a loss of $8.9 million, or $0.75 per share, on net sales of $227.4 million.
The company also reported it is in the late stages of exploring the potential sale of their interest in Wholesome Sweeteners to a third party.
Imperial Sugar closed at $6.02 on Thursday.
Shares of Cyanotech (NASDAQ: CYAN), the Kailua-Kona, HI manufacturer of microalgae-based, high-value nutrition and health products, rose 39% Thursday on 10 times the average daily volume.
Cyanotech Corporation announced financial results for the third quarter and first nine months of fiscal year 2012, ended December 31, 2011.
For the third quarter of fiscal 2012 compared to the third quarter of fiscal 2011, revenues were $6,706,000 compared to $3,919,000. Gross profit was $2,827,000, with gross profit margin of 42%, compared to gross profit of $1,232,000 and gross profit margin of 31%. Net income was $1,113,000 or $0.20 per diluted share, compared to net income of $10,000 or $0.00 per diluted share.
Cyanotech closed at $9.07 on Thursday.
DAQQ New Energy Corp
Shares of DAQQ New Energy Corp (NYSE: DQ), the Wanzhou, China manufacturer of polysilicon, rose 16% Thursday on 3 times the average daily volume.
DAQQ was part of a very strong solar energy group on Thursday, on reports of high demand in China. The country is looking to double solar installations and set lower tariffs to encourage manufacturers and developers to move into cleaner energy sources.
DAQQ New Energy closed at $4.01 on Thursday.
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