Spike Alert: Shares of iGATE Jump on Heavy Volume
by H.S. Ayoub, DMD
Volume Spike Investor
Shares of iGATE Corp (IGTE) gained more than 6% Thursday on more than 8x the 3-month average daily volume.
There were no news releases or other significant events that could be detected. What makes this jump interesting is that the bulk of the day's volume traded late in the day.
iGATE provides information technology and offshore outsourcing services to large and medium-sized organizations.
According to the latest Yahoo!Finance data the company is worth a little more than $400 million on the market, holds about $87 million in cash, and carries no debt. Revenue and profits have been increasing steadily over the last couple of years.
Shares of iGATE closed at $7.81 on Thurday, about 10% away from its 52-week high of $8.72.
iGATE has made VSI Watch Alert List, and will be tracked for the next two weeks.
Source: VSInvestor.com
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Volume Spike Investor
Shares of iGATE Corp (IGTE) gained more than 6% Thursday on more than 8x the 3-month average daily volume.
There were no news releases or other significant events that could be detected. What makes this jump interesting is that the bulk of the day's volume traded late in the day.
iGATE provides information technology and offshore outsourcing services to large and medium-sized organizations.
According to the latest Yahoo!Finance data the company is worth a little more than $400 million on the market, holds about $87 million in cash, and carries no debt. Revenue and profits have been increasing steadily over the last couple of years.
Shares of iGATE closed at $7.81 on Thurday, about 10% away from its 52-week high of $8.72.
iGATE has made VSI Watch Alert List, and will be tracked for the next two weeks.
Source: VSInvestor.com
___________________
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