Small
cap stocks making big moves on Wednesday, April 9, 2014 (as of 4 pm EST)
Constant Contact, Inc. (NASDAQ: CTCT)
shares powered 29% higher to $28.22 on volume of more than 4.2 million shares
Wednesday after the provider of online marketing tools announced that its 2014
revenue will rise 16% to about $330 million, up from its previous forecast of
more than 13% growth.
As well,
shares of Alpha Natural Resources (NYSE: ANR) slipped
6% to $4.57 on more than 18.5 million shares traded after UBS downgraded the
stock to ‘sell’ from ‘neutral’ and lowered its price target to $3 from $5 based
on lower met coal price forecasts for the sector due to oversupply issues and
the latest Q2 benchmark settlement that was lower than expected. The firm
expects balance sheets to be stressed and cash burn to accelerate, which could
result in a 2016 liquidity crisis.
iKang Healthcare Group, Inc. (NASDAQ: KANG),
meanwhile, saw its share price jump 9% to $15.20 on its first day of trading.
iKang is China’s largest provider of private preventive healthcare services,
accounting for about 12.3% of market share in terms of revenue in 2013.
Finally,
Gray Television, Inc. (NYSE: GTN)
shares moved up 15% to $11.36 after Wells Fargo increase its price target on
the Atlanta, Georgia-based television broadcast company to $13-$15 from
$10-$12.
