Today we feature Sypris Solutions Inc. (NASDAQ: SYPR), a transportation equipment manufacturer, as the top momentum gainer since the stock jumped more than 15% touching its new intraday 52-week high during the last two consecutive trading days with far more shares changing hands than in a normal session. SYPR was the top gainer in the U.S. industrial sector in the last session after climbing 15.1% and closing at its 52-week high of $3.97 while recording significant volumes of 298,062 shares. During the past 5-trading sessions, the stock surged 31.0% with daily average trading volume of 112,457 shares, while, the stock accumulated over 38.3% in the past month with daily average trading volumes of 31,917 shares. So far this year, the stock has provided returns of over 29%.
The stock soared after SYPR reported strong Q1’14 earnings result. Revenues for the company grew 7% to $84.2 million during the quarter over the same quarter last year. Gross margin expanded 220 basis points to 12.5%. The company reported a net profit of $1.7 million or 8 cents per share from the earlier loss of $6.5 million or 34 cents per share in the prior year quarter.
Company Description:
Sypris Solutions Inc. (NASDAQ: SYPR) provides technology-based outsourced services and specialty products. The company performs manufacturing and technical services, typically under multi-year, sole-source contracts with major corporations and government agencies in the markets for aerospace and defense electronics, truck components and assemblies, and for users of test and measurement equipment.
1-Year Stock Chart:
Source: Bloomberg
