Small
cap stocks making big moves on Tuesday, June 17, 2014 (as of 4 pm EST)
Giga-tronics Incorporated (NASDAQ: GIGA)
shares surged 37% to $3.36 on volume of more than 16.2 million shares Tuesday
after the producer of instruments, subsystems and microwave componentssaid it has received an order from the
U.S. Naval Air Warfare Center valued at approximately $2.4 million associated
with its Model 8003 Precision Scalar Analyzer. The company anticipates shipping
the equipment to the Navy over the next six months.
As well,
shares of Ring Energy, Inc. (NYSE MKT:
REI) slipped 10% to $17.40 as the oil and gas producer/explorer announced
that it has entered into a definitive agreement with a group of institutional
investors to issue two million restricted shares of its common stock at a price
of $15.00 per share, for gross proceeds of approximately $30 million.
Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW),
meanwhile, reported that it has received an order from Dillon Transport for
Quantum’s fully-integrated Back-of-Cab Fuel Storage System.Quantum Fuel Systems stock moved up 22%
to $5.27 following the announcement.
Finally,
BIOLASE, Inc. (NASDAQ: BIOL)
shares shot up 20% to $2.25 after the manufacturer and distributor of dental
lasers announced the election of a new Chairman and the appointment of a new
interim CEO.
