InTest Corp., a Cherry Hill technology company, said today that it has gained compliance with the exchange's price requirement for continued listing.
The Nasdaq Capital Market requires listed companies to have a closing price of at least $1 a share for 10 straight trading days. InTest, which makes test equipment for semiconductors, said it achieved that on Dec. 22 and was notified of its compliance by Nasdaq the next day.
Before the start of that 10-day period on Dec. 9, the company's shares had not closed above $1 all year and were as low as 12 cents in March.
InTest was notified in August of its noncompliance with the Nasdaq Global Market requirements, where the shares were then listed. The company switched to the Nasdaq Capital Market, which has lower requirements - including the $1 share price for 10 days.
Its shares were priced at $1.65, up 21 cents, in early-afternoon trading today. - Paul Schweizer