Liberator Medical Holdings, Inc. (OTCBB:LBMH) Closes At a 52-Week High
Yesterday Liberator Medical Holdings, Inc. (OTCBB:LBMH) added another 3% to its price and stopped at $1.90 by the closing bell. This marks the highest close the company enjoyed over the last year.
Liberator have, so far, had an amazing run in 2013. The stock had dipped as low as $0.60 late last year and the price has gone up over 250% year-to-date. The early summer spike, which was also the most significant in terms of percentile movement, happened on news that Liberator will be paying out their third cash dividend to shareholders, as well as implementing a share buyback plan.
The company was chugging along at a fierce pace after the announcement but the price caved in around $1.90 and some people seem to have decided to cash out their shares, pressing the stock down. However, Liberator proved resilient and the stock slowly made up what was lost. A strong 10-Q for the second quarter of 2013 helped the stock as well, with the following numbers posted:
- $10 million in cash, a $3 million increase on a QoQ basis
- $8 million in current liabilities
- $17.4 million in sales, a $0.7 million increase QoQ
- $2 million in net income, a $0.6 million increase QoQ
The price is now sitting at the exact same level it reached in an intra-day high during its last huge run. Long-term shareholders will be hoping this time around there will be fewer people wanting to cash their shares as the stock has proven its resilience once already. If LBMH manages to pierce through the $1.90 mark on its way up, interesting, even if volatile times may be ahead.
Other stocks that created a commotion on the OTC market yesterday include InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) who dropped by nearly a quarter and closed the session at $1.57. Advanced Cell Technology, Inc. (OTCBB:ACTC) cropped up among the most heavily traded OTC stocks again, shifting over 23 million shares and gaining 12%.
