RITA Medical Systems Rising on Higher Volume

Posted: November 27, 2006 at 9:54 am

From Volume Spike Investor

Shares of RITA Medical Systems(RITA) rose almost 3% on Friday as volume spiked 140% above the 3-month daily average.

There were no significant news releases or other significant events that could be detected.

RITA Medical engages in the development, manufacture, and marketing of products that use radiofrequency energy to treat patients with cancerous or benign tumors.

The company carries more debt ($9 million) than it holds in cash ($6 million).

Sales have been increasing substantially over the last three years, but net loss has not improved.

Shares of RITA Medical closed at $4, almost 14% away from the 52-week high of $4.65

RITA Medical Systems has made VSI’s Watch List.

http://www.vsinvestor.com/

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