AirMedia (AMCN) Shares Surging 76% Higher On Big Volume

AirMedia Group Inc. (AMCN) shares are up a whooping 76% to $3.62 in early trading, easily surpassing their Nov. 28 peak near $3.15. The move comes on a big volume too with the issue currently trading more than 3.5 million shares, which dwarfs the average volume of 115K shares for a full session over the past 3 months. Not seeing any news or rumors to account for the move.

AirMedia Group Inc. operates out-of-home advertising platforms primarily in the People’s Republic of China. Its stock has a median consensus analyst price target of $2.20, and a 52-week trading range of $1.65 to $3.70.

The T-12 profit margin at AirMedia is (10.18%). AMCN‘s revenue for the same period is $252.48 million.

AirMedia Group Inc. has a current market cap of $214 million.

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