Shares of PRT Group (Nasdaq: PRTG), which provides e-commerce solutions and other information technology services, climbed 23.5 percent in early trading today, gaining 3/4 to 3-15/16. On Friday, the stock closed up 7/8 to 3-3/16.
PRT Group stock is being boosted by the company’s announcement on Friday that its 10-month-old partnership with the Sun-Netscape alliance has developed a model for implementing e-business software into clients’ existing technologies and network systems.
PRT says that, to date, it has customized and implemented 10 projects for clients, including an Internet company, a pharmaceutical company, a bank and an oil company. PRT, however, did not name any of these clients, and it is hard to tell how significant the company’s announcement is.
With a market value of about $70 million, PRT could have a lot of upside, but investors might want to do some research into what they are buying before getting involved.