Stock Price Boost: Security Environmental Systems said...

Stock Price Boost: Security Environmental Systems said its 1-for-3 reverse stock split became effective Friday, reducing its total common shares issued and outstanding to 3.25 million. Officials of the Garden Grove company said the reverse split--giving the owner of 30 shares just 10 shares after the split--was designed to increase the value of the stock to make it more attractive to institutional investors and to comply with pricing rules for continued listing on the NASDAQ National Market System. The company, founded in 1972, transports and disposes of hazardous waste, with facilities in Northern and Southern California, New Mexico and Texas. Security Environmental’s new common stock closed at $6.63 a share Friday, slightly more than three times the old stock’s Thursday closing price of $2.19 a share.