Minerva Surgical (NASDAQ:UTRS) stock is rising higher on Wednesday despite a lack of news from the surgical and medical instrument manufacturing company.
There have been no new press releases or filings with the U.S. Securities and Exchange Commission (SEC) that would explain why shares of UTRS stock are rising today. Likewise, no analysts have weighed in on the company recently.
Instead, investors can look to heavy trading as the reason behind the rally today. As of this writing, more than 10 million shares have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 440,000 shares.
One thing investors will keep in mind is Minerva Surgical’s low share price of 18 cents when markets closed yesterday. It also has a market capitalization of $32.168 million. Both of these make Minerva a penny stock, which means its more subject to volatility. That’s especially true during pre-market trading.
What to Know About UTRS Stock
Minerva Surgical’s focus is on the development of minimally invasive devices that treat the root causes of abnormal uterine bleeding. The company operates out of California and was founded in 2008.
Minerva Surgical went public in 2021 with a $75 million initial public offering (IPO). The company sold 6.25 million shares of UTRS stock at that time for a price of $12 apiece.
UTRS stock is up 229.4% as of Wednesday morning.
There’s more stock market news traders will want to know about below!
InvestorPlace is home to all of the latest stock market news for Wednesday! That includes the biggest pre-market stock movers this morning, as well as the latest concerning a potential stock market crash and more. You can get up to speed on all of this news at the following links!
More Wednesday Stock Market News
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Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
