Top Losers: Quest Resource Holding Corp. (NASDAQ:QRHC), ITT Educational Services, Inc. (NYSE:ESI), NXT-ID Inc. (NASDAQ:NXTD)
Dallas, Texas, 09/19/2014 (ustrademedia) – Quest Resource Holding Corp. (NASDAQ:QRHC) today tumbled to $1.85 during the early trade, falling more than 47 percent at 10:20 a.m. EDT. The company today announced the pricing of $1.99 per share for its underwritten public offering of 9 million shares of common stock, together with warrants to purchase 9 million shares at a price of $0.01. An offering of $18 million is expected to close on September 24, 2014. Sole Book Running Manager for this offering is Maxim Group LLC. The company also granted a 45-day option to the underwriters to purchase up to 700,000 additional shares and/or 700,000 additional Warrants.
ITT Educational Services, Inc. (NYSE:ESI) hits 52-week low of $5.32 as the stock plunges roughly 30 percent in the opening trade. The stock has fallen nearly 84 percent year to date and steeply from its 52-week high of $45.80. The stock fell as the company received a ‘so-called’ Wells notice from the SEC, indicating the U.S. regulators may pursue a ‘cease-and-desist’ order and fines. The notice underscores that SEC staff recommends an action including potential civil enforcement action. The Education Department has already placed the company under stringent cash monitoring following ITT’s failure to submit financial statements for 2013.
NXT-ID Inc. (NASDAQ:NXTD) hits 52-week low of $1.36 as the stock plunges more than 12 percent in the opening trade. The stock has fallen nearly 65 percent year to date and steeply from its 52-week high of $7.25. The company today provided updates about the ‘Wocket in Your Pocket’ ad campaign, featuring former boxing celebrity Vinny Pazienza. NXT-ID CEO NXT-ID expressed that Vinny Pazienza’s epic story is gaining importance as celebrities like Katey Sagal are attached to his upcoming movie. NXT-ID is excited to have him build the company’s consumer awareness ad for the Wocket. The company will also roll out new celebrity ads in near-term.