The smaller-cap Canadian tech stocks we’ve found have rallied on average 33% over the past month on increased volume
SmallCapPower | January 8, 2020: Last year, The S&P/TSX Capped Information Technology Index rallied 65%, outperforming the S&P TSX Composite Index, which was up 23%. With the roaring twenties of the 2000s expecting to bring technologies such as blockchain, 5G, Internet of Things (IOT), Artificial Intelligence, and Quantum Computing to mass adoption, the Technology Index may continue outperform the broader market index. Today we have identified four Canadian tech stocks that have rallied over the past month on increased price and volume momentum, which could continue into 2020.
*Share price data as at January 6, 2019, data obtained from S&P Capital IQ
Baylin Technologies Inc. (TSX:BYL) – $2.42
Baylin Technologies is a global wireless technology management company. The Company’s operations focus on research, design, development, manufacturing and sales of passive and active RF products and services. Baylin is a one-stop shop that designs and manufactures custom engineered antennas for mobile, wireless infrastructure and broadband devices. Baylin is expected to take advantage of the unprecedented wave of infrastructure investment in global telecommunications particularly 5G, which requires 8x as many antennas as 4G.
- Market Cap: $97.4M
- 0-Day Return: +41.3%
- YTD-Return: +14.6%
- 30-Day Average Trading Volume: 133,660
- 90-Day Average Trading Volume: 103,690
Quisitive Technology Solutions, Inc. (TSXV:QUIS) – $0.27
Technology & Cloud Solutions
Quisitive is a digital technology consulting firm that provides organizations with Microsoft Cloud (Azure, Dynamics, and Office 365) solutions, as well as proprietary software as a service (SaaS) solutions and cloud data services. Quisitive is one of 35 companies to have earned the “National Solution Provider” designation from Microsoft. Quisitive helps its clients harness the power of the Microsoft cloud and technologies, such as artificial intelligence, machine learning, IOT, and blockchain through customized solutions. Quisitive’s goal is to become the premier Microsoft Solutions provider, and is planning to scale organically and through acquisitions. On January 1, QUIS announced that it had closed its acquisition of Menlo Technologies, a provider of Microsoft technology, corporate consulting, and business software and systems.
- Market Cap: $29.7M
- 30-Day Return: +38.5%
- YTD-Return: +8.0%
- 30-Day Average Trading Volume: 163,780
- 90-Day Average Trading Volume: 139,360
mCloud Technologies Corp. (TSXV:MCLD) – $5.72
Technology – Internet of Things
mCloud is an Artificial Intelligence and IOT company that uses both technologies to solve a variety of energy problems including: curbing energy waste, maximizing energy production, and extending the health of critical energy infrastructure (HVAC, wind turbines, electrical transformers, gas compressors). The Company utilizes IoT sensors to bring data from connected assets into the cloud, where AI and analytics are applied to maximize their performance.
- Market Cap: $90.3M
- 30-Day Return: +30.7%
- YTD-Return: +16.2%
- 30-Day Average Trading Volume: 36,730
- 90-Day Average Trading Volume: 21,900
Photon Control Inc. (TSX:PHO) – $1.30
Technology – Sensors
Photon Control designs, manufactures, and distributes a range of optical sensors and systems to measure temperature, position and flow to end users in the semiconductor and related industries in the United States, Asia, and internationally. The Company offers fiber optic temperature probes that measure temperature particularly in harsh environments. Photon Control also provides single channel and multi-channel temperature sensing products and it offers custom design, installation, training, and support services.
- Market Cap: $135.8M
- 30-Day Return: +21.7%
- YTD-Return: -6.5%
- 30-Day Average Trading Volume: 153,180
- 90-Day Average Trading Volume: 125,840
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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