Sonic Foundry Inc. (SOFO) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the technology sector during morning trading on September 22. At the lunch break, shares of SOFO have risen 7.3% to $6.38 after closing the day prior at $5.95. In the first two and a half hours of trading, the stock has gone as high as $6.49 and as low as $5.75. Today’s rise has come with about 41,691 shares changing hands, compared to an average 30-day volume of 4,532 for Sonic Foundry Inc.. The price is currently below the 30-day volume weighted average price of $6.21 for SOFO.
The share appreciation gives the company a market capitalization of $26.23 million based upon 4.41 million shares outstanding. It also means that SOFO has a price-to-book ratio of 3.75:1.
In the past 52 weeks, shares of SOFO have traded as low as $4.28 and as high as $8.625. Technical traders will take note that at $6.38, shares of SOFO are trading above their 200-day MA at $6.04 and above their 50-day MA at $6.06. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is SOFO?
Sonic Foundry Inc provides video content management and distribution for education, business and government in the web communications marketplace. The company’s 202 employees are led by CEO Gary R. Weis from the corporate headquarters at 222 West Washington Avenue in Madison, WI.
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