Shares of RAYSTREAM INC (OTC:RAYS) continued to move higher for the sixth consecutive days on Monday and made another new 52-week high of $2.23.
RAYSTREAM INC has shown very smooth rally over the past one month with the stock more than doubled during the same period.
The recent rally was largely driven by additions of four new Business Development Managers. Moreover last week, the stock was promoted support the company’s news.
RAYSTREAM’s CEO Brian Petersen stated that given the increased demand for proprietary online HD video compression technology, they are adding team members, working in offices throughout the United States and Germany.
The stock is now trading higher by 11 cents or 5.37% to $2.16 and made a new 52-week high of $2.23. More than 4.29 million shares exchanged hands, compared to its average volume of 1.09 million shares. The stock is trading well above its 50-Day Moving Average and 200-Day Moving Average of $1.81 and $%1.83.
The company has market capitalization of $102.45 million. The company had total 49.97 million shares, of which 46.47 million shares were floating. The company had 1.97 million in cash reserve.
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