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Dot Hill’s stock price closed at 98 cents on Oct. 19, and remained below $1 until Friday, Jan. 4. The Longmont-based company’s stock trading price dipped after that but rose again to close at $1.03 on Jan. 9, said Jodi Bochert, an investor relations spokeswoman. Executives from Dot Hill (Nasdaq: HILL) made presentations at two industry investor conferences and announced a large storage contract in mid-January. Since Jan. 9, the stock has remained above $1 through Jan. 25, when it closed at $1.23.
A publicly traded company has 180 days to come back into compliance with Nasdaq rules after its stock price drops below $1. In the past year, the stock has traded at a low of 72 cents and a high of $1.65. The company is currently in a “quiet period” required by the U.S. Securities and Exchange Commission in advance of its scheduled March 11 year-end earnings report.
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The computer storage industry has faced some contraction since 2008, as some competitors are purchased by each other or go out of business, Bochert said. Dot Hill’s stock was at $1.23 in midday trading on Monday.
Dot Hill has 320 or so employees, 250 of them in Longmont. The company also has offices and/or representatives in China, Germany, Japan, the United Kingdom, Singapore and in other parts of the United States.