Is IVT Software Inc (OTC:IVTW)’s Rise Sustainable?
Shares of IVT Software Inc (OTC:IVTW) have moved higher by over 71% over the past three trading sessions. Today’s volume of over 286K shares so far is the highest at least in the past 8 months of trading sessions.
There were no new which justifies this sharp rise. However, IVTW stock is highly promoted and that’s why we are seeing such huge pop up in the stock.
One should not forgot that IVTW had such large pop-up and pop-down in the past. The stock had fallen from $6.40 in late December to $1.25 in just three and a half months.
One thing, which is looking suspicious here, is that although price movement is large, but volume is low, which might be the reason for such gains. But, this doesn’t guarantee the stoppage of further upside.
IVTW was better known as HWI Global, which was merged with Haddad Wylie Industries, LLC in late December.
We have not seen much volume into the IVTW stock since that merger. But, today’s unusual volume still looks suspicious. So we need to see the sustainability of the recent rally.
Looking at the financials, the company had revenue of $793812 for the quarter ended March 31, 2011 with net loss of $ 441,374. Total assets stood at $ 757,298 with current assets of $ 686,810 and current liabilities stood at $ 2,112,191.
The company is engaged in providing renovation systems for advanced cleanrooms. The company’s flagship product is Bio-GardTM.
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