Benzinga's Small Cap Movers for Wednesday January 2, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Gevo (NASDAQ: GEVO), the Englewood, CO renewable chemicals and next-generation biofuels company, rose 18% Wednesday on 19 times average volume.
Gevo announced Wednesday that its Board of Directors has approved a stock repurchase program that authorizes Gevo to repurchase up to $15,000,000 of its common stock over a one-year period. The Company expects to fund its stock repurchase program with existing cash and cash equivalents on hand. Any shares repurchased will be classified as treasury stock or retired.
Gevo closed at $1.82 on Wednesday.
Shares of BioCryst Pharmaceuticals (NASDAQ: BCRX), the Research Triangle Park, NC biotechnology company, rose 14% Wednesday on higher than average volume.
BioCryst Pharmaceuticals announced Wednesday that Jon Stonehouse, President and Chief Executive Officer of BioCryst is scheduled to present and provide a corporate summary and update regarding the Company at the 31st annual J.P. Morgan Healthcare Conference in San Francisco on Thursday, January 10, 2012 at 10:30 AM Pacific Time.
BioCryst Pharmaceuticals closed at $1.63 on Wednesday.
SORL Auto Parts
Shares of SORL Auto Parts (NASDAQ: SORL), the China-based supplier of brake and control systems to the global commercial vehicle industry, rose 14% Wednesday on twice average volume.
SORL Auto Parts announced Monday that the Chinese government has renewed SORL's High-Tech Enterprise status. The Company was also designated as a High-Tech Enterprise beginning in 2009, the first year it was available, through the 2011 fiscal year. As a High-Tech Enterprise, SORL receives a preferred tax rate of 15% for the three years 2012 through 2014, compared with the normal 25% corporate tax rate.
SORL Auto Parts closed at $2.79 on Wednesday.
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