Benzinga's Microcap Movers for Tuesday June 19, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Ascent Solar Technologies
Ascent Solar Technologies (NASDAQ: ASTI), the Thornton, CO photovoltaic technology, rose 16.60% Tuesday on 10 times the average daily volume.
Ascent Solar Technologies announced Tuesday that it has received a purchase order for 50,000 units of its EnerPlex solar charger for the Apple (NASDAQ: AAPL) iPhone. The EnerPlex charger was launched in early June, and it was displayed at Ascent's annual shareholder's meeting. It was first publicly displayed to the industry at Intersolar in Europe last week. The product takes advantage of Ascent's ultra-light, thin and flexible solar panels and enables iPhone users to provide supplementary charging of their iPhones with sunlight.
The order is from Ascent's exclusive distributor in Asia, TFG Radiant, which has advance orders from its channel partners for retail distribution throughout the Asia region.
Ascent plans to fulfill the channel orders, supporting the early August retail launch of EnerPlex chargers in Asia.
Ascent Solar Technologies closed at $0.85 on Tuesday.
Shares of Galena Biopharma (NASDAQ: GALE), the Lake Oswego, OR biotechnology company, rose 22.48% Tuesday on more than twice the average daily volume.
Galena Biopharma announced Tuesday that Mark J. Ahn, Ph.D., President and Chief Executive Officer, will present a corporate update at the 2012 BIO International Convention. The presentation will take place on Wednesday, June 20, 2012 at 9:30 a.m. EDT at the Boston Convention and Exhibition Center in Boston, MA.
Galena Biopharma closed at $1.58 on Tuesday.
India Globalization Capital
Shares of India Globalization Capital (NYSE: IGC), the integrated infrastructure company in India and China, rose 21.16% Tuesday on twice the average daily volume.
India Globalization Capital, announced that it has entered into an MOU to acquire an iron ore mine site.
IGC entered into an MOU to acquire a mine site adjacent to its existing iron ore mines in China. The acquisition gives IGC four sites from which to beneficiate low grade ore and process it into high-grade iron ore. Based on current pricing of $110 per ton, this site has estimated reserves of 66 percent grade iron ore valued at over $50 million. When complete, this acquisition will raise our combined estimated iron ore reserves on the four properties in Linxi, Inner Mongolia to approximately $600 million based on today's pricing.
The purchase price for this property is $4.4 million.
India Globalization Capital closed at $0.28 on Tuesday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
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