Will ParkerVision, Inc (NASDAQ:PRKR) Win The Lawsuit?
In 2011, ParkerVision, Inc (NASDAQ:PRKR) had filed a lawsuit against Qualcomm and later revealed that it had sought $500M in damages. The suit had been filed for 6 patent-infringements and the company was also seeking injunctive relief for the alleged infringement of radio frequency receiver-related patents. There was also an issue of down-conversion of the electromagnetic-signals.
Even as the company readied for the trial, its stock price kept increasing in Wednesday’s trading session. As of 30 September, ParkerVision, Inc (NASDAQ:PRKR) had short-interest of 20.6M shares which was up by 963,000 in a 2-week period. The case had been sent to the jury on Tuesday and Qualcomm did not call in any experts to testify on their behalf. Each party had been given 20 hrs to present their cases and some segment of that time will be allocated for phase 2 of the trial. If ParkerVision, Inc (NASDAQ:PRKR) wins the case, the jury will then decide on what the exact damages will be.
In Wednesday’s trading, ParkerVision, Inc (NASDAQ:PRKR) rose by 14.98%. The opening price of the shares was $3.07, which climbed to an intraday high of $3.70 and dipped to a close of $3.37. Approximately 4.11 million shares were traded on Wednesday while an average volume of 1.01 million shares were traded over a 30 day period. The 52-week low of ParkerVision, Inc (NASDAQ:PRKR) shares is $1.48 and its 52-week high is $4.92. ParkerVision, Inc (NASDAQ:PRKR) has a market capitalization of $311.33 million.
About the company
ParkerVision, Inc (NASDAQ:PRKR) is involved in designing, development and sale of its radio frequency technologies and various products that are used in semiconductor-circuits. These circuits are used in different wireless communication products. ParkerVision, Inc (NASDAQ:PRKR) is engaged in innovating numerous fundamental wireless technologies. Apart from this, the company also provides engineering-consulting and design-services to its customers.