Planar Systems (NASDAQ: PLNR) and DiaMedica (TSXV: DMA) Lead the Top Sector Gainers

Planar Systems Inc (NASDAQ: PLNR) and DiaMedica Inc (TSXV: DMA), lead the top small cap stock gainers for various sectors on both sides of the border, including one that saw its share price surge 81%.

Top U.S. Gainer

Planar Systems Inc (NASDAQ: PLNR), engaged in engaged in developing, manufacturing and marketing electronic display products and systems, was the top performer in the U.S. technology sector after skyrocketing 72.7% and closed at $6.39 Thursday, while recording significant trading volumes of 18.3 million shares. PLNR broke its key technical resistance level of 30-Day DMA at $4.00. The upward movement in the stock’s price resulted as PLNR recently announced its financial results for Q4’14, ended September 26, 2014. PLNR reported an EPS of $0.14, which overtook the market’s consensus estimate of $0.09 and revenue of $53.6 million a year-over-year (YoY) increase of 17.3%. PLNR net income stands at $3.1 million, up by $1 million from last year. During the past 5-trading sessions, PLNR gained 64.7% with daily average trading volumes of 3.7 million shares, while the stock accumulated 85.8% gain during the past one month with daily average trading volumes of 778,529 shares. The stock is up 151.6% year-to-date.

1-Year Price Chart

Top Canadian Gainer

DiaMedica Inc (TSXV: DMA), engaged in the discovery and development of drugs for the treatment of diabetes and related diseases was the top sector gainer after skyrocketing 81.4% and closed at C$0.39 Thursday, while recording significant trading volumes of 907,414 shares. DMA broke its key technical resistance level of 30-Day DMA at C$0.33. Recently, the company announced that it has cancelled its previously announced public offering for the issuance of up to 24 million units at a price of C$0.25 per unit. The company recently completed a study on its randomized, placebo-controlled, double-blinded Phase II clinical trial of DM199 in patients with type 2 diabetes mellitus and expects to receive the results from the clinical research organization in mid-November and hence DMA elected to cancel the proposed public offering financing with management concluding that such decision would in the best interest of all DiaMedica shareholders. During the past 5-trading sessions, DMA gained 59.2% with daily average trading volumes of 266,330 shares, while the stock fell by 2.5% during the past one month with daily average trading volumes of 86,202 shares.

1-Year Price Chart