CORAL GABLES, FL / ACCESSWIRE / October 30, 2017 / Over the last 3 months technology stocks have become more important for the S&P 500 and has been a key role in the bullish sentiment around the sector. The S&P 500's technology sector is the most connected with the overall index in the last three months. It shows that when tech stocks increase, the S&P seems to gain as well. With that being said here are two technology stocks to have on your watch-list on Monday.
Lexington Biosciences, Inc. (LXGTF) a developmental-stage medical device company has seen an increase in trading activity in the last two weeks. The company recently announced on Oct.23rd that it has received its HeartSentry trial units. HeartSentry is a first-in-class non-invasive diagnostic device to measure and monitor cardiovascular health.
Lexington President Eric Willis stated, "We are delighted to take delivery of these first HeartSentry human-use units from our manufacturer. The design and production team have worked for nine months to perfect the HeartSentry technology and device design, and we have achieved a significant milestone by moving the HeartSentry out of the lab and into a hand-held mobile unit ready for clinical trials. We look forward to being able to commence study enrollment in our upcoming HeartSentry clinical study in order to gather the foundational dataset aimed at supporting FDA clearance."
Over the last two weeks of trading, (LXGTF) has seen a surge in price per share of 26.28% from its closing price on Oct. 10th of $0.35 to daily highs on Monday Oct. 30th of $0.442.
SuperCom, Inc. (NASDAQ: SPCB) a global provider of secure solutions for a variety of industries stock is jumping 39% from its previous close on Monday (10/30/17) after the company announced strong Q3 2017 financials. (SPCB) price per share jumped 39% to daily highs during Monday's trading session of $4.24 from Friday's (10/27/17) closing price of $2.73.
The company reported record revenue with an 89% increase to $9.6 million from $5.1 million in the previous quarter.
Arie Trabelsi, SuperCom's President and CEO, stated, "I am very pleased with our performance this quarter, reaching record quarterly revenues with 89% organic growth, gross margins above 50% and EBITDA margins above 20%, marking significant milestones in our long-term business plan. After three consecutive quarters of dramatically improved financial performance, it is becoming apparent how impactful our enhanced business model is and how important the transition of 2016, however challenging, was to SuperCom's future."
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