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ePlus, PLUS, has been charging hard the past three trading days. |
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Released on Thursday, June 7, 2012, 2:00 AM ET
Pittsburgh, PA (SpeculatingStocks) - ePlus, Inc. (NASDAQ:PLUS) is engaged in the selling, leasing, financing, and managing of information technology (IT) and provides services for among other things cloud computing.
PLUS is a sparsely traded stock that sees just a few thousand shares traded each day. There are only 3.88 million shares in its float and around 8 million outstanding. Even with sparse volume, PLUS has moved from $22.36 last September to a current price of around $32.73.
PLUS shares have been charging hard the past three trading days, moving from $30.50 and with a 52-week high above at $34.16. We believe that we will continue to see PLUS trend higher over the short and long-term.
PLUS has grown revenue from $676 million in 2010 to $863 million in 2011 and net income has grown from $12.7 million to $23.7 million. The company has a strong balance sheet with over $174 million in cash and cash equivalents on their balance sheet as of the end of 2011 and long-term debt of $23.4 million. PLUS is trading at a market cap of only around $261 million and operating in a space with lots of growth potential ahead.
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