A Western Canadian asset sale sparked speculation in shares of an energy junior Wednesday. Here’s some small stocks making big moves on Wednesday, May 16, 2018 (as of 4 pm EST):
Altura Energy Inc. (TSXV:ATU) shares powered 26% higher to $0.50 on Wednesday after the energy junior announced that it has agreed to sell its east-central Alberta and Saskatchewan assets for $28.375 million in cash. The Company also said its first-quarter production volumes rose 20% from a year ago to an average of 1,215 Boe per day.
As well, shares of Spectra7 Microsystems Inc. (TSX:SEV) slid 18% to $0.14 as the provider of analog semiconductor products for broadband connectivity markets said its first-quarter revenue fell 69% from the previous quarter to US$0.9 million.
Ventripoint Diagnostics Ltd. (TSXV:VPT), meanwhile, reported that it has received market clearance from the US Food and Drug Administration (FDA) to sell its VMS+ machine with the 4-chamber heart analysis system in the United States. Ventripoint Diagnostics stock popped 19% to $0.35 following the announcement.
Finally, Xebec Adsorption Inc. (TSXV:XBC) shares climbed 15% to $0.69 after the provider of gas purification solutions for the industrial, energy and renewables marketplace announced that it has signed an exclusive Market Development and Commercialization Agreement with Sapio Group for a minimum purchase order commitment for multiple Xebec biogas upgrading plants for a total value of C$51 million to be delivered over three years.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.