Ciber, Inc. (NYSE: CBR)
CIBER is having an incredibly strong day in the trading session today. When the session opened for the day, the stock was already trading on incredibly strong gains. Since then, we've seen a bit of movement in both directions, but it doesn't look like the stock is going to give up the profits any time soon. Below, we'll talk about what we're seeing from CBR, why, and what we'll be watching for with regard to the stock ahead.
What We're Seeing From CBR
As mentioned above, CIBER is having an overwhelmingly strong day in the market today. At the open of the trading session, the stock hit the ground running, already trading on big profits. Since the open, we've seen a bit of bouncing around there at the top, but the gains seem to be sticky. At the moment (10:12), CBR is trading at $0.48 per share after a gain of $0.20 per share (71.33%) thus far today.
Why The Stock Is Climbing
Our partners at Trade Ideas were the first to send the alert that CBR was making a run for the top. As soon as we received that alert, the CNA Finance team started to work to see why the stock was experiencing such large gains. It didn't take very long to uncover the story in this case. It seems as though the gains are the result of a takeover offer.
Early this morning, it was announced that AMERI Holdings has made an offer to acquire CIBER. The offer comes in at $0.75 per share. This is an incredible premium when we consider that the stock closed the day off on Friday at $0.28 per share. At the moment, the offer has not been accepted. However, given the premium and the fact that AMERI already owns about 5.5% of the company, there's a strong chance that this one will happen!
What We'll Be Watching For Ahead
The CNA Finance team will be keeping a close eye on CBR in the days and weeks ahead. Ultimately, we'll be following the story of the potential acquisition in the works. We'll continue to follow the story closely and bring you the news as it breaks!
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