Yesterday the trading activity with the stock of Vasomedical, Inc. (PINK:VASO) was on the boil.
The trading volume exceeded 1.4 million shares, which is tens of times higher than the daily average for the company.
The volume explosion had apparently exerted serious buying pressure on the stock as VASO stock value increased 31.82%. At the closing bell VASO shares had reached $0.29 per share.
According to the data published by FINRA, 399 thousand shares were exchanged in short transactions yesterday. In other words, the short volume for the day was 28% of the whole volume.
The overall excitement about VASO stock yesterday was produced by the announced quarterly results for the period ended November 30, 2011. According to the announcement, the company has registered an increase in its net income.
The 10-Q report which was also filed yesterday showed a net income of $2.4 million for the three months ended November 30, 2011. However, the document also shows a decrease in the revenues from equipment sales as compared to the previous year.
In addition, there was a decrease in the company’s cash and cash equivalents for the six months ended November 30, 2011 of more than $4.4 million due to considerable cash outflow from the company’s operating activities.
