Black Box Corp Distances Itself From Low Of Move

Black Box Corporation BBOX shares are trading higher by $1.10 (12 percent) at $10.05 in Wednesday's session.

The only relevant news on the stock came Tuesday morning, as the technology solutions provider declared its quarterly cash dividend and announced intentions to activate its stock repurchase program.

The issue, with a short float of 7.17 percent, has a short interest ratio of 10.2 days. With the low float, shorts may be scrambling for cover in the issue.

After a flat open, it retreated only a dime to $8.85 (a nickel away from its recent low of $8.80) and began to move higher. So far, the ensuing rally has taken the issue to $10.15 and it's attempting to remain in the $10.00 handle. That marked the highest level for the issue since it put in a pair of highs at $11.24 on February 2 and 3.