Valence Technology Inc. (VLNC) is squeezing higher as it moves up into the $1.70 area. The stock has jumped 19.42% to $1.66 on heavy volume in late afternoon trading Monday. More than 12.9 million VLNC shares have changed hands, 12 times the ticker’s average daily volume.
Short interest in the name stands at over 13.50% on 72 million float. Valence’s stock opened at $1.40 on Monday.Valence has a 52 week range of $0.64 to $1.71. The stock’s 50-day moving average is $1.32 and its 200-day moving average is $1.02.
At last check, VLNC’s shares were up 26 cents, or 18.71%, to $1.65. Day’s range: $1.39 – $1.71
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