Some of the best performing small cap stocks of the day included:
Cohu Inc. (COHU)
At the moment, shares of COHU are up 24%, or $3.74 on three times average volume after an upgrade from a hold to buy rating at Stifel Nicolaus. The firm has a price target of $22. Following the company’s latest earnings results, analysts are confident that fundamentals have finally bottomed out, with a recovery forming.
Akorn Inc. (AKRX)
Shares of AKRX are up 17%, or 52 cents a share on volume of 10.25 million shares, as compared to its daily average of 2.5 million shares. All after reporting a loss of $82.2 million for the most recent quarter, or 65 cents a share. Adjusted EPS came to 10 cents, which beat expectations for an adjusted EPS loss of 14 cents. Revenue was $165.9 million, which was better than expectations for $153 million.
Cray Inc. (CRAY)
Shares of CRAY were up 14%, or $3.74 on the day on volume of 994,489, as compared to daily average volume of 340,275. All after it and AMD signed a deal with it to develop the fastest supercomputer in the world.
According to MarketWatch:
“Su and Peter Ungaro, the chief executive of Cray, said the system — planned to be the size of about two basketball courts — will reach a processing speed of 1 exaflop per second, which translates to an unimaginable 1 quintillion floating-point calculations per second. It will be about 50 times faster than today’s fastest supercomputers. AMD will provide both the main processors, or CPUs, and the graphics processors, or GPUs.”