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Open Solutions Builds Post-IPO Base Pattern.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: CRAIG SHAW
Open Solutions has found a trading range between 20 and 26 the past six months after rallying a quick 50% from its November IPO. The stock hasn't marked a down week on above-average volume since May, a sign institutions are standing pat. It's 14% off its high.
The maker of software systems for banks and credit unions has grown year-over-year revenue by 50% or better for four straight quarters. The firm targets community banks with less than $20 billion in assets, according to a Feb. 10 New America article. Many of those clients still use decades-old mainframes and are in need of new ...
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