Trading in shares of an Oceanside medical telecommunications company soared nearly 2,000 percent above average on Tuesday, putting the company near the top among Nasdaq stocks with unusually high trading that day.
American Medical Alert Corp. saw 183,700 shares change hands Tuesday, representing a 1,987 percent increase over its 65-day average volume, the Associated Press reports in a look at the day’s 10 highest Nasdaq volume gainers.
A search of Google News, wire services and financial commentary turned up no financial developments or news items that could have sparked the high-volume trading.
The shares rose $0.10 to close Tuesday at $5.41.
American Medical Alert had income of $2.21 million on revenue of $41.5 million in the past 12 months, Yahoo Finance reports.
Newsday reported in May that American Medical Alert won a three-year, $3 million contract to provide pharmaceutical brand support and clinical contact communications for a major drugmaker. AMAC did not name the client, but said it is a Fortune 500 company and among the ten largest companies in its product category.
American Medical Alert is a provider of health-care communication services and advanced "tele-health monitoring technologies." It operates a round-the-clock medical-alert call center, and provides networks of remote health monitoring devices.