Microcap Movers for Wednesday December 14, 2011
Below are highlights from Benzinga's daily coverage of microcap securities. Benzinga provides comprehensive, objective, and conflict-free coverage of the microcap sector in real-time at BenzingaSmallCap.com.
Shares of eOn Communications (NASDAQ: EONC), the Corinth, MS provider of VOIP communications services in North America, rose 95% Wednesday on 52 times the average daily volume.
eOn's 10-Q filing, released on Tuesday, shows a gain in net revenue of 7% in Q3 2011, compared with the same period in 2010. Net income for Q3 2011 was $346,000 compared to a net loss of $247,000 for the same period in 2010.
eOn Communications shares traded in a range of $1.65 to $2.88 Wednesday, closing at $1.99.
Shares of RiT Technologies (NASDAQ: RITT), the Tel Aviv-based bprovider of intelligent solutions for infrastructure management, asset management and network utilization, rose 15% on 26 times the average daily volume.
RiT announced Wednesday, a private Share Purchase Agreement with STINS COMAN, its principal shareholder, under which it will convert an outstanding loan in the amount of approximately $3.2 million into 636,874 of RiT's ordinary shares at an average price of $5.09 per share, reflecting a premium of 24% above the current NASDAQ share price.
RiT Technologies shares traded Wednesday in a range of $4.51 to $5.90, closing at $4.73.
Shares of Accelr8 Technology (NYSE: AXK), the Denver, CO developer of quantitative bio-analytical measurement instruments, rose 41% Wednesday on 13 times the average daily volume.
The company presented data today at its annual meeting on its BACcel Rapid Diagnostics system. Accelr8 CEO Thomas V. Geimer told Benzinga the BACcel system can identify bacteria in a patient and determine which antibiotic will best treat it within an 8-hour hospital shift. Traditional culture results take two to three days.
Accelr8 Technology shares traded Wednesday in a range of $1.32 to $2.40 on 13 times the average daily volume, closing at $1.90.
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