Dallas, Texas 08/14/2013 (Financialstrend) – Cereplast Inc (OTCMKTS:CERP) had recently been into the watch list of many equity research analysts, primary owing to the recent gain in its share prices supported by heavy surge in trading volume of the stock reflecting the higher level of investor attraction. Expectations of the investors and the analysts on the financial performance results to be released shortly is highly piling up which is resulting in such price surges of the shares. While the company had recently made a press release stating that the revenues for the first half of the fiscal year 2013 could be expected to be at $1.7 million, the financial status of the company talks a different history.
It had been observed that the revenue generation for the second quarter which ended on June 30, 2013 is at $750,000 which was reported to be a decline of 22% from the first quarter revenues. With such poor financial performance for the recent quarter, analysts are skeptical whether Cereplast Inc. would be able to achieve the announced revenues for the first half of the fiscal year and thereby ensure profits to the shareholders.
Shares of Cereplast Inc rose by 15.77% on Tuesday to close at $0.0279 per share for the day, with a trading volume of 78.34 million shares. The stock had presented intraday price movements varying from low of $0.02 to high of $0.03 per share. Presently, the company has recorded low price of $0.01 and high price of $0.35 per share for the past 52 weeks. The stock holds around 332.68 million shares standing out in the market with the investors with an institutional holding of 6%. The average trading volume of the stock over the past one month of trading is reported to be at 12.56 million shares per day.