Shares of Sino-Global Shipping America Ltd (NASDAQ: SINO), a marine shipping company, experienced strong momentum after skyrocketing over 119% in the past two trading sessions on strong financial results. The company’s stock gained more than 31% during each of the past two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session, SINO was the top performer in the transportation and logistics industry after climbing 31.1% and closed at its 52-week high of $3.29 with considerable trading volumes of 30.3 million shares. During the past 5-trading sessions, SINO gained 127% with daily average trading volumes of 6.4 million shares, while the stock accumulated over 119% during the past one month with daily average trading volumes of 1.0 million shares. The stock is 32% year-to-date. The stock rallied after the company reported the strong Q’4 results of fiscal year 2014 Monday. The revenues during the quarter increased 452.5% year-over-year to $3.8 million from $680,000 in the same quarter last year, while SINO reported earnings of 10 cents per share during the quarter from the prior loss of 30 cents per share reported in the identical quarter last year.
Company Description:
Sino-Global Shipping America Ltd. offers marine shipping agency services. The company handles handysize, panamax, capesize, roll-on and roll-off, and very large crude carrier class ships.
1-Year Stock Chart:
Source: Bloomberg
