JCSE - Singapore's JE Cleantech stock rallies for second day shares up 45%

Singapore-based JE Cleantech ( NASDAQ: JCSE ) stock shot up 45% in midday trading Wednesday after jumping 21% on Tuesday.

Shares of the industrial cleaning company opened at $2.58, sliding to a low of $2.54 in early trading before climbing to a high of $3.68 in late morning. The stock recently changed hands at $3.30 at approximately 12:20 p.m. ET.

JE Cleantech shares also rallied on Tuesday, climbing 21% to close at $2.27. The company did not appear to release any news on or make any recent SEC filings.

As of July 29, the company had an outstanding float of 5.42M shares, with 1.16% held by short interests, according to Yahoo Finance data.

JE Cleantech held its initial public offering on April 22 , offering 3M shares priced at $4 per share to raise $12M.

Based in Singapore, JE Cleantech Holdings’ JCS-Echigo unit designs, manufactures and sells industrial cleaning systems to clients in Malaysia and Singapore. Its subsidiary Hygieia Warewashing is a provider of central dishwashing and general cleaning services for the food and beverage industry, mostly in Singapore.

For a closer look at JE Cleantech, check out SA contributor Donovan Jones’s “J.E. Cleantech Targets $12 Million US IPO”.

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