Dallas, Texas 10/31/2013 (Financialstrend) – Quantum Fuel Systems Technologies Worldwide Inc. (NASDAQ:QTWW) is an alternate fuel manufacturer with a market cap of $18.45 million. In the trailing 12 months the company has managed to post sales of $21.9 million and has recorded net loss of $20.7 million in the same period.
During trading on October 30, the stock’s market value of the stock plummeted by a staggering 25% during the days trading. This can be traced back to a mandatory SEC filing by the firm which disclosed that SEAMANS CAPITAL MANAGEMENT, LLC has managed to increase its stock holding to 1.1 million shares representing 7.2% of the total stock which bears a $0.02 par value.
In the past one month the stock has gained by 60.5% in market value and by a whooping 166% in the past 90 days. The enthusiasm for the stock was also shared by analysts along with the investors. Ratings agency Craig Hallum initiated its coverage of the stock by assigning a Buy on the stock. It has also indicated a price target of $10. This translates to a 36% premium on the trading price of the stock as of October 18. On the back of the strong backing by analyst report the price point of the stock over shot its previous 52 week high valuations.
The sudden dip in the market value of the stock in the past one year is intruging since it has been a solid performer over the past 12 months. It has posted sales growth of 13% during its 2Q and managed to post 42% growth in its earnings per share. It has posted close to 140% increase in its market value in the past 12 months and investors would be hoping that the reversal in the fortunes of the stock is temporary and will regain its lost market value soon.