Benzinga's Microcap Movers for Friday March 2, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of EDGAR Online (NASDAQ: EDGR), the Rockville, MD provider of financial data and public filings for equities, mutual funds, and other publicly traded assets, rose 25% Friday on 3.5 times the average daily volume.
EDGAR Online announced Friday unaudited financial results for the fourth quarter of 2011 and the full year ended December 31, 2011.
Total revenues were $7.6 million for the quarter ended December 31, 2011 compared to $4.9 million for the quarter ended December 31, 2010, and adjusted EBITDA was $0.8 million for the quarter ended December 31, 2011 compared to a net loss of ($1.3 million) for the quarter ended December 31, 2010. Total revenues were $27.8 million for the year ended December 31, 2011 compared to $19.5 million for 2010, and adjusted EBITDA was ($3.6 million) for the year ended December 31, 2011 compared to ($1.9 million) for 2010.
EDGAR Online closed at $0.80 on Friday.
Shares of Gravity (NASDAQ: GRVY), the Seoul, South Korea developer of online games in Japan, Taiwan, Brazil, the Philippines, Indonesia, Singapore, Malaysia, Thailand, and the Russian Federation, rose 19% Friday on 4 times the average daily volume.
A positive article in Seeking Alpha contributed to the move in Gravity shares.
Gravity closed at $2.70 on Friday.
Shares of Inuvo (NYSE: INUV), the Clearwater, FL provider of software and analytics technology solutions over the Internet for use by online advertisers and Website publishers, rose 20% Friday on 4 times the average daily volume.
Inuvo and Vertro (NASDAQ: VTRO) announced Thursday the closing of their merger effective March 1, 2012 after having received approval at the special meetings of stockholders of each company on February 29, 2012.
As a result of the merger, Vertro is now a wholly owned subsidiary of Inuvo in a tax-free exchange of shares at the exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock. Inuvo's common stock is listed on the NYSE Amex and will continue to trade under the symbol of INUV. Shares of Vertro common stock, which previously traded under the symbol “VTRO,” have ceased trading on, and are being delisted from, the NASDAQ Capital Market.
Inuvo closed at $1.06 on Friday.
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