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WPCS Int'l (WPCS) Stock Gains on New Contracts

NEW YORK (TheStreet) -- Shares of WPCS International (WPCS - Get Report) were gaining 11.5% to $1.65 with heavy trading volume on Monday after the communications services company discussed how many new contracts it won in the second quarter of fiscal 2016.

WPCS said that it won $4.7 million in new contracts in the fiscal second quarter that ended on October 31, 2015.

"Following this positive news is the fact that we now start Q3 with a deeper operations, sales, business development and acquisitions team focused exclusively on identifying and creating opportunities that we fully expect will profitably drive the top line," Interim CEO Sebastian Giordano said in a statement.

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About 1.5 million shares of WPCS were traded by 10:28 a.m. Monday, above the company's average trading volume of about 369,000 shares a day.

TheStreet Ratings team rates WPCS INTERNATIONAL INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

We rate WPCS...