Boston, MA 06/11/2013 (wallstreetpr) – The share prices of Highpower International Inc. (NASDAQ:HPJ) had surged by 26.72 percent to close at $1.28 per share for the end of last trading session on Monday. The shares of the company had been trading at an intraday low price of $1.01 per share and an intraday high price of $1.32 per share. This recent surge in share prices of the company had pushed Highpower International Inc. (NASDAQ:HPJ) to hit new 52 week high price level at $1.32 per share and the 52 week low price level of the company is at $0.74 per share.
Highpower International Inc. (NASDAQ:HPJ) is primarily engaged in the development, production and sales of rechargeable nickel metal hydride batteries, lithium batteries and battery systems. The company is also involved in the sales of recycled scrap materials to some of its customers, the recycling process being outsourced to another company. Highpower International Inc. (NASDAQ:HPJ) operates its business through two major segments namely consumer batteries segment and industrial batteries segment.
In the recently released financial results for the first quarter of 2013, Highpower International Inc. (NASDAQ:HPJ) had recorded a net increase in sales of 18.4 percent year on year to post $24.4 million sales in what is generally believed to be the seasonally weakest quarter. Further the gross profit margin of the company had also improved from 17.8 percent to 19.5 percent, which is an increase of 170 basis points year on year.
The net loss for Highpower International Inc. (NASDAQ:HPJ) for the first quarter of 2013, was reported to be $608,880 which translates into a loss of $0.04 per basic and diluted share of the company. The shares of the batteries manufacturer had witnessed the trade of 398,542 shares on Monday, while the average trading volume for the company is at 10,110 shares per day.
