Intrusion Inc. (INTZ) shares declined 4.67% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $4.90 per share. Earlier in the regular trading session of Tuesday, INTZ’s stock gained 52.07%. INTZ shares have fallen 44.19% over the last 12 months, and they have moved up by 20.66% in the past week. Over the past three months, the stock has lost 71.51%, while over the past six months, it has declined 78.57%. The company has a current market of $96.68 million and its outstanding shares stood at 17.54 million.
Let’s see is there any recent news behind its massive surge on Tuesday?
INTZ preliminary Q2 2021 financial figures
On July 20, 2021, INTRUSION, Inc. (INTZ) announced preliminary revenue for the second quarter of 2021, which is expected to be within the range of $1.9 million and $2.0 million.
Upcoming Financial results announcement
INTRUSION will announce its full second-quarter results on Thursday, August 12, and host a conference call with Anthony LeVecchio, Chairman of the Board, and Messrs. Byrd and Head participating at 4:00 p.m. Central Time.
INTZ arranging more funding
INTRUSION also said that additional capital may be required to achieve profitability. Recently, INTZ has engaged an investment banking firm to evaluate various funding sources, and also potentially constructive longer-term strategic options that might help INTRUSION grow, achieve its operating objectives, and maximize shareholder value.
INTZ Organizational Changes
INTZ also made some changes to its management and the Board of Directors of INTRUSION has asked CFO, Franklin Byrd, and CTO, Joe Head–who is also an INTRUSION Co-Founder–to assume operating responsibilities together on behalf of the Company immediately. The changes were made after Jack B. Blount, previously President, Chief Executive Officer and a Board member left the company.
INTZ inauguration on Russell Microcap® Index
INTRUSION, Inc(INTZ) joined the Russell Microcap® Index on June 25, 2021, according to a preliminary list of additions published by FTSE Russell on June 4, 2021.
Intrusion facing several lawsuits
Intrusion has been dragged into court by many reputable law firms in America and filed several lawsuits against the company.
Rosen Law Firm filed a lawsuit against INTZ 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.
Conclusion
Well, as of this writing, there is no recent news that could justify the INTZ surge and later its decline. We are unable to predict how it will perform in the coming days.
