Breakout Stocks: Neutral Tandem Inc. (NASDAQ:IQNT) Up 41.27%, Mindspeed Technologies, Inc. (NASDAQ:MSPD) Up 24.45%
Northern, WI 05/01/2013 (GDPInsider) – Neutral Tandem Inc. (NASDAQ:IQNT) opened trading at $4.08 and is currently showing breakout numbers with a gain of 41.27%. The stock closed at $2.98 previous and the day’s range of $3.90 and $4.25 represents a sizable rally. Volume for the stock is presently 2.46 million which represents a significant jump in trading on the average volume of 583.41K. The stock is trading 25.04 above its 50-day moving average and 35.60% above its 20-day moving average. IQNT is trading 53.61% below its 52-week high but up a healthy 93.33% on its 52-week low of $2.10. Neutral Tandem Inc. has just released Q1 earnings figures, highlights of which show generated revenues of $69.7 million. Although revenues were down 1% on the corresponding quarter last year, CEO Ed Evans believes things are looking up. “”Our performance thus far in 2013 is very encouraging. The sale of our data business accomplishes several goals. It is highly accretive and it allows us to focus all of our efforts on the voice business, which we expect will yield further improvements. We are becoming more disciplined in everything that we do,” said Evans in a statement accompanying the release. IQNT has a market cap of $96.28 million and institutions own 63.76% of the stock.
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Mindspeed Technologies, Inc. (NASDAQ:MSPD) started trading at a lively $2.97 and is currently up 24.45% on trading volume of 1.43 million. MSPD has a trading range of $2.84 and $ 3.11 which puts it 45.92% below its 52-week high of $5.27 and 25.00% above its 52-week low of $2.28. Mindspeed Technologies, Inc. develops, designs and sells a range of semiconductor solutions for a variety of applications in the communications space.
The company released its Q2 2013 earnings figures with CEO Raouf Halim commenting on the growth prospects for MSPD, particularly in the arena of 4G/LTE and the small cell wireless markets. In addition to the growth prospects the company has hired Morgan Stanley to make an evaluation of its strategic alternatives. The stock is currently trading 15.60% above its 20-day simple moving average but is down 19.21% on its 50-day simple moving average. Insiders own 5.53% of the stock and account for 23.25% of transactions. Analysts have set a target price of $3.74 and the stock has a RSI of 53.24.
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