Boston, MA 06/13/2013 (wallstreetpr) – The share prices of Guanwei Recycling Corp. (NASDAQ:GPRC) had surged by 12.41 percent to close at $1.63 per share for the end of last trading session on Wednesday. The shares of the company had been trading in the range of $1.42 to $1.73 per share during the day. The shares of Guanwei Recycling Corp. (NASDAQ:GPRC) had recorded 52 week low price level of $1.14 per share and 52 week high price level of $2.36 per share.
Guanwei Recycling Corp. (NASDAQ:GPRC) is primarily engaged in the manufacture and sales of plastic products such as that of low density polyethylene. The raw material of the company includes plastic wastes imported from many countries. The customers of Guanwei Recycling Corp. (NASDAQ:GPRC) are widespread in the industries of shoe manufacturing, industrial equipment and supplies, architecture and engineering products and chemical and petro chemical manufacturing.
In the recently released financial results for the first quarter of 2013, Guanwei Recycling Corp. (NASDAQ:GPRC) had reported an increase in net income by 14.53 percent over the previous year. The earnings per share of the company had increased to $0.23 per basic and diluted share, compared to the earnings per share of $0.21 for the same quarter of previous year. Guanwei Recycling Corp. (NASDAQ:GPRC) had reported a total revenue of $14.83 million for the first quarter of 2013, compared to the revenue of $14,04 million for the same quarter of previous year.
The gross profits for the company in the first quarter had increased by 9.10 percent over the profits for the same quarter of last year. The shares of Guanwei Recycling Corp. (NASDAQ:GPRC) had since then been surging in prices with heavy trading volumes.
The company had witnessed the trade of 374,104 shares on Wednesday, while the average trading volume for Guanwei Recycling Corp. (NASDAQ:GPRC) is at 33,236 shares per day.
