Dallas, Texas 07/22/2013 (Financialstrend) – Shares of Overstock.com, Inc. (NASDAQ:OSTK) had recently surged to touch new peaks on Friday with the earnings results announced for the second quarter of fiscal year 2013. The company had reported earnings per share for this quarter at $0.15 per share, thereby beating the consensus estimates at $0.12 per share. The company with its primary operations in the e-commerce space had recently been gaining heavily with around 20% gains on one day on Thursday and with around 425% gains for the past 52 weeks.
The company had proved highly effective in posting significant profit margins in the company sales for the previous fiscal year, which had enabled the investors to surge the prices from the lowest $5 per share to around $15 per share in few days of trading. Further, in the previous two quarters, the company had consecutively presented significant growth in revenues and attractive profit margins which had surged the share prices to new high levels of around $35 per share. While Overstock.com stands last among the three major players in the e-commerce space, it is quite surprising that this stock had been showing significant strength in the recent days of trading. The marginal decline that had occurred in the share prices of OSTK on Friday is however expected to be a minimal correction in the bullish trend.
The stock had decreased by 6.29% to close at $32.77 on Friday, after the opening price at $34.76 per share. Overstock.com, Inc. (NASDAQ:OSTK) had throughout the trading session moved between $32.31 and $35.50 per share and presently has 52 week lowest price at $6.52 and 52 week highest price at $35.60 per share. The market cap of the stock is at $775.01 million with 23.65 million shares outstanding and 47% institutional ownership of capital. The trading volume on Friday was at 1.07 million shares on the stock and the average level is at 468,523.00 shares per day.