Benzinga's Microcap Movers for Wednesday May 2, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of Stratton Holdings (STHG), the Toronto, ON gold mining company, rose 100% Wednesday on 33 times the average daily volume.
Stratton Holdings announced Wednesday that its interim CEO, Cedric Atkinson, has identified a seasoned mining professional, John Semachko, Jr., to serve as the company's official Chief Executive Officer to fulfill the STHG obligations and objectives toward long-term growth and multiple streams of revenue. Semachko is the former president of Sierra Gold, a West African mining company with which STHG executives have a pre-existing relationship. He has a longstanding reputation in the industry and will be resigning from all outside positions to ensure that Stratton receives exclusive focus in a strategic plan to foster the company to new levels with opportunities in both West Africa and North America.
Atkinson, in addition to bringing seasoned management on board with industry expertise, has set in motion the steps to buy out Accurate Resource Development's 50% ownership in its JV with Stratton, giving Stratton Holdings, Inc. 100% ownership in the West African Mining venture, reducing the company's funding requirements to $450,000 from $750,000, saving the company $300,000 in commitments and increasing its ownership position in what company executives feel will be a highly profitable venture for STHG and its shareholders.
Stratton Holdings closed at $0.0002 on Wednesday.
Shares of Integrated Biopharma (INBP), the Hillside, NJ manufacturer and distributor of vitamins, nutritional supplements, and herbal products, rose 680% Wednesday on 871 times the average daily volume.
There was no specific news and a company spokesperson could not be reached for comment. The move may be attributed to a stock promotion and chat room discussion.
Integrated Biopharma closed at $0.20 on Wednesday.
Shares of Hudson Technologies (NASDAQ: HDSN), the Pearl River, NY provider of refrigerant services and solutions, rose 22.82% Wednesday on 13 times the average daily volume.
Hudson Technologies announced Wednesday results for the first quarter ended March 31, 2012:
Revenues for the three months ended March 31, 2012 increased more than 7% to $14,854,000 from $13,818,000 in the comparable 2011 period. Hudson reported a gross profit margin of 40% for the first quarter of 2012 compared to 27% in the first quarter last year. The Company also reported net income of $2,509,000, or $0.11 per basic share and $0.10 per diluted share for the first quarter of 2012, compared to net income of $1,088,000, or $0.05 per basic share and $0.04 per diluted share for the first quarter of 2011. Income tax expense of $1,538,000 and $667,000 for the first quarter of 2012 and for the first quarter of 2011, respectively, is largely a non-cash item as a result of the Company's deferred tax asset.
Hudson Technologies closed at $4.09 on Wednesday.
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