OCZ Technology Up Almost 3% In Weak Market

Bucking the trend today is shares of OCZ Technology Group Inc. (NASDAQ: OCZ), which is up almost 3% in an incredibly weak market.

After reporting better than expected earnings last week, shares of OCZ Technology have tacked on nearly 20%, a remarkable move as the company had a huge short interest going into earnings, and the shorts have had to cover their positions.

The company reported earnings of 1 cent per share on $73.8 million in revenues. Wall Street had been expecting a loss of 1 cent per share on $69.5 million in revenues. In addition, the company said it sees full year sales for 2012 at $310 to $345 million, versus expectations of $325.7 million.

At last check, shares of OCZ were up 26 cents to $9.93, a gain of 2.6% today.