ShiftPixy Inc (NASDAQ:PIXY) is surging on abnormally-high volume Wednesday. The stock traded as high as $2.75 in premarket trading before pulling back significantly.
ShiftPixy's average session volume is about 1.5 million over a 100-day period, according to data from Benzinga Pro. Wednesday's trading volume has already exceeded 85 million at publication time.
ShiftPixy's total float is about 15.6 million. The short interest is currently 256,400 shares, so 1.6% of the total float is currently being sold short.
The company did not publicly release any news or statements. ShiftPixy declined to comment on the price action of its stock.
ShiftPixy provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and connect with a ready-for-hire workforce.
PIXY Price Action: ShiftPixy has traded as high as $4.69 and as low as 63 cents over a 52-week period.
The stock was up 32.5% at $1.48 at time of publication.