Every day up a couple of pennies, down a couple to only end up basically even every day on 1.5 million shares traded. Who on earth is buying and selling with what looks like no real movement in the stock price.
On a side note, I thought the shelf was open with MLV, but perhaps it is with JMP. On the CC, they indicated about $40 M left on the shelf. I'm guessing they are letting all interested investors take shares at these levels, so Ms. Whitaker and team are amply funded into 1H2016 (or at least 2H2015 in the event they decide to ramp up their burn).
I think the key on the volume is to dig into the block trades versus the shear volume.