AVYA - Avaya shares surge 28% to keep rallying in wake of stock's 52-week-low

Investors threw their weight behind Avaya Holdings (NYSE:AVYA) on Thursday, and sent the digital communications technology company's shares up more than 28% on high trading volume. Heading into the afternoon, more than 12 million shares of Avaya (AVYA) had been exchanged--nearly six times the stock's average daily volume of 2.1 million shares. There was no discernible news behind Avaya's (AVYA) larger-than-usual activity. It was the second-straight day of big gains for Avaya (AVYA) after its shares climbed more than 15% on Wednesday. Avaya (AVYA) shares fell to a 52-week-low of $2.93 a piece on May 26. Earlier last month, analysts at Barclays cut their rating on Avaya (AVYA) to underweight, or the equivalent of sell, and lowered their price target on the stock to $5 a share from $8.

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Avaya shares surge 28% to keep rallying in wake of stock's 52-week-low