Friday Afternoon’s Top Gainer Overview: Sypris Solutions, Inc (NASDAQ:SYPR)

SYPR: 1.55 -0.01 (-0.64%)

On Friday, Sypris Solutions, Inc (NASDAQ:SYPR) higher 120.54% or +1.32 points.

The stock is now trading at $2.45 per share. The market capitalization for the company is reported at $25.05M.

SYPR is moving on high volume, trading at a volume of 1.28M shares, for now, as compared to its average daily volume of 39,655.00 shares. At $2.48, the stock is losing momentum as shares are down from a peak price of $2.94 recorded on Dec 24, 2014. The stock is down -6.19% in this year through last updated price. The stock is having its 200-day moving average of $1.32 and $1.08 as its 50-day moving average. The stock, as of now, is showing weekly upbeat performance of 117.77%, which is maintained at 128.14% in 1-month period.

Analysts mean recommendation for the stock is 3.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

Sypris Technologies, Inc. (Sypris), a partner of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), declared recently that it has been awarded a long-term contract with Volvo Group North America LLC and Mack Trucks, Inc. for the supply of axle shafts for use on Volvo’s Mack branded axle through 2018.

Commenting on the declaration, Paul Larochelle, Vice President of Sales and Planned Initiatives, stated, “Sypris has been providing axle shafts to Volvo for over a decade as a tier two supplier. We are happy to continue the supply of these components now directly to Volvo as a tier one supplier. We are excited for the opportunity to expand and extend our planned relationship with Volvo and collaborate on other products where we can bring value to their supply chain.”

Sypris Technologies is a premier manufacturer and supplier of drivetrain and other critical components for the commercial vehicle, automotive, recreational vehicle, mining, agriculture and energy markets. Sypris is headquartered in Louisville, Kentucky. With facilities located throughout North America, Sypris continues to meet the needs of the industry after more than 80 years of service.

Sypris Solutions, Inc. offers outsourced services and specialty products in the United States, Mexico, Denmark, and the United Kingdom. It provides manufacturing, engineering, design, and other technical services under contracts with corporations and government agencies in the industrial manufacturing, and aerospace and defense electronics markets. The company’s Industrial Group segment supplies forged and machined components for the commercial vehicle, off highway vehicle, light truck, and energy markets.

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About Travis Garlick 1742 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.