Boston, MA 06/03/2013 (wallstreetpr) – The share prices of Giga-tronics Inc. (NASDAQ:GIGA) had surged by 14.29 percent to close at $1.60 per share for the end of last trading session. The shares of the company had been trading in the range of $1.50 to $2.22 per share during the day before closing at $0.20 per share higher than the previous closing price. The shares of Giga-tronics Inc. (NASDAQ:GIGA) had thereby recorded new 52 week high price level at $2.22 per share and the 52 week low price level for the company is at $0.89 per share.
Giga-tronics Inc. (NASDAQ:GIGA) had recently reported that Steve Lance had joined the company as Vice President of Finance and was thereby appointed as Chief Financial Officer by the Board of Directors on May 22, 2013. The company operates through its wholly owned subsidiary Giga-tronics Division and Microsource Inc. and is involved in the design, manufacture and marketing of testing and measurement equipment’s for use in wireless communications products and systems, flight navigational equipments, electronic defense systems and automatic testing systems.
The share prices of Giga-tronics Inc. (NASDAQ:GIGA) had been surging to new records of high prices in the recent days and were also witnessing heavy trading volumes. While the average trading volume for the company is at 19,712 shares per day, nearly 541,376 shares of Giga-tronics Inc. (NASDAQ:GIGA) were exchanged hands on the last trading session on Friday. The company presently holds 5.04 million shares outstanding in the market and the institutional ownership is 9 percent of its holdings.
