NightHawk Biosciences (NYSEMKT:NHWK) stock is on the rise Wednesday despite a lack of news concerning the biopharmaceutical company.
Investors will note that there have been no new press releases for filings with the Securities and Exchange Commission (SEC) that explain the jump in price for NHWK stock. There’s also no new analyst coverage today that could be behind the movement.
Even so, shares of NHWK stock are seeing heavy pre-market trading this morning. This has more than 2 million shares of the company’s stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is only about 49,000 shares.
Investors will keep in mind that this low average trading volume, a market capitalization of $16.197, and a prior closing price of 62 cents per share make NHWK a penny stock. That is worth pointing out as penny stocks are more volatile due to how easy they are to manipulate. This is especially true during pre-market and after-market hours.
What to Know About NHWK Stock
NightHawk Biosciences is a biopharmaceutical company founded in 2008 that operates out of Morrisville, North Carolina. The healthcare company currently has 77 employees and went through its initial public offering ( ) back in 2013. Its main focus is on the development of immune therapies and vaccines.
NHWK stock is up 25.5% as of Wednesday morning but is down 20.4% since the start of the year as of yesterday’s close.
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On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risk.
On the date of publication, William White did not have (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.