Wave Systems Corp. (NASDAQ:WAVX) spike up by 3.63% to trade close at $4.57 after climbing to its new 52 week high of $5.31 following the news that the Obama Administration is working on a cybersecurity ID program. With the use of this program, without having to remember different passwords, the users will be able to log onto different sites.
Shares of the company that offers software that enables hardware encryption and the ability to do away with multiple passwords have traded in the range of $1.65 and $5.31 during the past 52 weeks. The company’s current market cap is $370.92 million. It reported its latest EPS at ($0.05). The stock traded with heavy volume of 7.83 million shares, about 10 times above its daily average volume of 753,094 shares.
The company announced in SecurityStockWatch.com interviews that it has expanded its carmaker contract and has received additional license and maintenance orders worth $5.2 million via its OEM partners.
In that interview, the company said that it will increase the speed of the deployment of its services and the total value of the automaker’s software orders to $10.9 million. Of $10.9 million, $1.9 million in contracts was reported as revenue for 2010, $6.7 million as revenue will be recognized over the period of next 12 months & the remaining amount will be recognized in the period of 2012 to 2014.
Steven Sprague, President and CEO said “Having utilized our solution during 2010, the customer has accelerated and significantly expanded its deployment of ERAS seats, furthering our belief that a centrally managed, hardware encryption solution can offer superior data protection.”
On Jan 11, The Company announced that MicroStockProfit.com which is a small-cap research and investment commentary provider provided an investment report featuring Wave Systems Corp which included financial, comparative and investment analyses, and industry information investors need to know to make an educated investment decision.
Wave Systems Corp. (Wave) develops, produces and markets products for hardware-based digital security, including security applications and services that are complementary to and work with the specifications of the Trusted Computing Group (TCG), an industry standards .
