Rockwell Medical (NASDAQ:RMTI) jumped over 7 percent today after the manufacturer of hemodialysis concentrate solutions and dialysis kits had coverage initiated by FBR Capital Markets . FBR announced that it initiated coverage of RMTI with an underperfom rating and a dismal price target of $6.00. Naturally, investors laughed at the rating from such a small, useless analyst firm and started buying shares of Rockwell Medical hand over fist. The lesson here: when a small, useless investment firm issues a rating, do the opposite. You can’t lose. RMTI has a consensus rating of HOLD with an average price target of $13.20. So you can see that FBR is out to lunch yet again. RMTI has a market capitalization of $409 million.
GoGo (NASDAQ:GOGO) rose more than 7 percent in the current trading session after the company reported it has entered into a partnership with T-Mobile. The partnership will allow T-Mobile customers to send and receive text messages while flying on Gogo equipped planes, as well as receive visual voice mail messages. GoGo shares are trading in the range of $17.52 to $18.29. The 52-week range of the stock is $11.66 to $35.77. The company has a market capitalization of $1.55 billion.
Rada Electronic (NASDAQ:RADA) surged over 16 percent today following it’s earnings report where it announce it grew revenues 23 %, and affirmed its growth would be inline or better going forward. Net income was 4 cents per share compared to 10 cents per share for the same period last year. Shares of RADA are trading in the range of $3.55 to $4.20. The company has a market capitalization of $33.18 million.
Magnum Hunter Resources (NYSE:MHR) isn’t doing much today, as it’s down a penny on the day, however it is noteworthy none the less. A trader bought a whack of call options in MHR. Over 5500 contracts of the October $7 calls have been purchased in opening trades. The calls were bought at 15 cents. Shares of MHR are trading in the range of $6.09 to $6.29. The company has a market capitalization of $1.24 billion. Clearly something is going on with MHR as earnings don’t come out until after these calls expire.
Neptune Technologies & Bioresources (NASDAQ:NEPT) opened at $2.16 today and is now currently trading at $2.29 on volume of 888,000 shares. The intra-day range of the stock is $2.14 to $2.37. It is currently up over 15%, and was up more earlier this morning. NEPT is a biotech company that manufactures marine-derived omega-3 polyunsaturated fatty acids. The stock is up as it announced it’s reached it’s annual production capacity at its Sherbrooke, Quebec manufacturing facility. The company has a market capitalization of $149 Million and like many biotech companies, is losing money every day.