Home Top Movers Why Intrusion Inc. (INTZ) stock gained significantly on Tuesday?

Why Intrusion Inc. (INTZ) stock gained significantly on Tuesday?

Intrusion Inc. (INTZ) shares surged 6.21% to trade at $13.49 in after-market on Tuesday, May 18, 2021. Earlier INTZ’s stock gained 3.08% to close Tuesday’s normal trading session at $12.71. INTZ shares have soared 199.06% over the last 12 months, and they have moved up 27.87% in the past week. Over the past three months, the stock has lost 44.13%, while over the past six months, it has risen 22.57%.

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Let’s check out its latest news and developments.

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Intrusion facing several lawsuits

Intrusion has been dragged into court by many law firms in America and filed several lawsuits against the company.

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Rosen Law Firm filed a lawsuit against Intrusion and reminded purchasers of the securities of Intrusion Inc between January 13, 2021, and April 13, 2021.

According to the lawsuit, the Company made false and misleading statements to the market. Intrusion’s Shield product was not an innovative new offering, but rather the repackaging of existing technology.

Financial results announcement

On May 04, 2021, Intrusion, Inc. released its financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights

  • Intrusion reported revenue of $1.9 million for the first quarter of 2021, compared to $1.8 million for the first quarter of 2020.
  • The gross profit margin was 66% in Q1 2021 compared to 58% for the first quarter of 2020.
  • Operating expenses were $5.1 million in the first quarter of 2021 compared to $1.5 million for the first quarter of 2020.
  • The company reported a net loss of $3.9 million, or $0.22 per share in Q1 2021, compared to a net loss of $0.5 million, or $0.04 per share, for the first quarter of 2020.
  • Intrusionhad cash and cash equivalents of $13.1 million and working capital of $12.3 million on March 31, 2021. 

New companies signed up for INTRUSION Shield

On April 06, 2021, global components manufacturing giant Lippert Components (Lippert) signed an agreement with Intrusionto protect its network using INTRUSION Shield.

Earlier, on March 31, 2021, Intrusion, Inc signed a new agreement with leading global consumer products company, Kimberly-Clark, to protect its network using INTRUSION Shield.

Global companies require the capability to defeat cyber attacks and other cyber threats with greater efficiency, and INTRUSION Shield has proven its ability to kill malicious communications with 99.999 percent accuracy.

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Conclusion

Well, as of this writing we had no recent news which could justify its gains on Tuesday. It is hard to predict for us how INTZ will perform in the coming days.

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