Shares of Breakaway Solutions (Nasdaq: BWAY) rose in afterhours trading after the company said it will split its stock in two weeks.
After market close Monday, the Internet services firm announced plans for a 2-for-1 stock split, payable Mar. 23 to shareholders of Mar. 7 record. The company will have 36 million shares outstanding after the offering, a company spokesman said.
Breakaway stock traded as high as 159 in afterhours activity on the Island network. Shares closed Monday's regular trading at 147, up 15 5/8 for the session.
The move would be Breakaway's first split since its IPO in October. Shares of Breakaway have gained nearly 307 percent in the company's five months as a publicly-traded company.
Among five analysts polled by Zack's Investment Research, three maintain the equivalent of a "moderate buy" rating on Breakaway, one recommends the stock as a "strong buy" and one has a "hold" advisory on the stock.>