Finjan Holdings, Inc.(NASDAQ:FNJN) shareholders are having a great time as FNJN stock has soared over 60% so far this month with string momentum. Shares of the cybersecurity company have witnessed solid buying activities since May 6th following the release of first quarter earnings.

Key Catalyst:

For the last quarter, Finjan Holdings, Inc. (NASDAQ:FNJN)  witnessed 10 fold jump in revenues to $24.70 million from $2.30 million year on year.  The company derives revenues from licensing agreements and settlements. For the quarter ended, Finjan got $15 million from Sophos, $7.745 million from Avast and $2 million from Veracode.

Positive news was the company’s robust results enabled the company to retired its entire $10.2 million Series A Preferred Stock financing led by Halcyon Long Duration Recoveries Investments I LLC (“Halcyon LDII”).

Sophos is estimated to pay the company a sum of $2.5 million; one payment is due on 3/31/2018 and another one on 3/31/2019.

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Major Announcements:

In April 2017, FNJN had done a license deal with Avira amounting $4.9 million cash. $2.3 million of that was already paid in Q2 2017 on April 26, 2017. Rest of $2.60 million would be paid in two installments – : $1.3 million on or before January 31, 2018, and another $1.3 million on or before January 31, 2019.

Moreover, Finjan also made a deal with Avira, to distribute and sell the Avira VPN Platform as part of Finjan’s Vital SecurityTM suite of product offerings. Avira will also grant Finjan Mobile certain license rights and Finjan Mobile shall pay Avira $3.9 million in license fees payable in 12 quarterly installments of $325,000 over the next 3 years.

Upcoming Events:

The company is scheduled to host couple of Investor Conferences in coming weeks:-

On May 25th, The 18th Annual B. Riley Investor at 12:30 PM PT at the Loews Santa Monica Hotel in Los Angeles, California and

on June 6th, The 7th Annual LD Micro Invitational at 2:30 PM PT at the Luxe Sunset Boulevard Hotel in Los Angeles, California

Technical analysis:

After the recent rally, the stock closed the week at $2.96 – hitting 32 month high. Considering the volume and continuous buying activities, the stock is in the multi- year breakout zone.  It has a strong support at $2.65 (which was its pullback low on May 17th). The stock is trading well above its 50-Day Moving Average and 200-Day Moving Average of $2 and $1.52 respectively.

Stock Performance

So far this year, the stock has soared over 160% from $1.12 to $2.96. Over the past 52-week, share of the company have been trading in the range of $1 to $3.10. The stock had witnessed its highest one day at least in the past one year with volume of 2.7 million shares for the day. The company has a market capital of $68.82 million (based on the closing price of $2.96 on May 19th, 2017). The company has a total outstanding shares of 23.17 million. For continuing coverage on shares of $FNJN stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!