Active Power Inc. said Tuesday it was reviewing strategic and financial alternatives to boost shareholder value, including finding new investors, ways to accelerate growth initiatives or a potential sale of the company. The maker of power supply systems said it hired Vinson & Elkins as its legal advisor. "We believe our current share price undervalues the company," said Chairman Daryl Dulaney. "Our board and management team have always been committed to acting in the best interests of our shareholders and we are aggressively seeking ways to maximize shareholder value by pursuing strategic and financial alternatives." The stock, which is currently halted for news, has plunged 71% year to date, while the S&P 500 has gained 6.1%. The stock closed Monday at 38 cents, and is set to resume trade at 9:15 a.m. ET.
July 26, 2016, 8:58 a.m. EDT