Stock Rise Puzzles Helionetics: Helionetics Inc., a...

Stock Rise Puzzles Helionetics: Helionetics Inc., a small Irvine defense contractor, said it “did not understand” why the company’s stock rose sharply in unusually heavy trading on Tuesday and Wednesday. More than 40,000 Helionetics shares changed hands on both Tuesday and Wednesday, contrasted with an average daily volume of about 1,000 shares. The over-the-counter stock rose 62.5 cents per share to $4.125 on Tuesday, then fell 12.5 cents to $4 on Wednesday, Helionetics said. Helionetics Chairman Charles W. Jobbins said a New York investment firm, Rosenkrantz, Lyons & Ross, recently issued “a favorable research report on our company.” He said the company has not issued any press releases that might explain the stock’s recent activity.