Shares are up nicely by more than 40% since the low marked in late December
Shares of GAIN Capital (NYSE:GCAP) have gained close to 7% in Monday trading after the company has reported staggering volume numbers for the month of January. Aside from setting a new all-time volumes record, the report serves to dispel concerns that GAIN Capital’s acquisition of GFT has not really paid off in higher volumes and increased competitiveness.
We are half an hour into Tuesday’s session and shares are easily maintaining yesterday’s impressive gains. Skeptical shorts have been knocked out of the market in a swift fashion yesterday as investors are buying into the company’s stock into its Q1 2014 earnings report. The company has still not published the date when it will release the numbers, but according to Zacks Investment Research that is likely to be around the 11th of March.
The consensus forecast for earnings per share currently stands at $0.08 which contrasts with last years’ same quarter data that was reported at $-0.09. It has taken the company’s share price about six weeks to recover by 40% since the low marked on December 27, 2013 set just above $7. That said we are still trading way below last year’s highs above $14.50. GAIN Capital’s shares are shaking hands at $10.17 as of writing.
Stay tuned to LeapRate as we keep you posted about further developments surrounding GAIN Capital’s volumes and share price developments in the months ahead.