Benzinga's Microcap Movers for Tuesday April 3, 2012

Below are highlights from Benzinga's daily coverage of microcap securities making big moves:

Shares of Income Opportunity Realty Investors,

, the Dallas-based real estate investment company, rose 31% Tuesday on light volume. Income Opportunity Realty Investors reported Monday results of operations for the fourth quarter ended December 31, 2011. During the three months ended December 31, 2011, we had a net income applicable to common shares of $3.02 million, or $0.72 per diluted earnings per share, as compared to a net income applicable to common shares of $1.73 million, or $0.41 per diluted earnings per share for the same period ended 2010. Income Opportunity Realty Investors, closed at $1.83 on Tuesday.

Shares of SmartHeat

, the manufacturer and seller of plate heat exchangers in the People’s Republic of China, rose 91% Tuesday on 35 times the average daily volume. SmartHeat released its 10K on Monday. Net sales in 2011 were $65.22 million, consisting of $32.59 million for PHEs, $23.42 million for PHE Units, $6.54 million for heat meters and $2.67 million for heat pumps, while net sales in 2010 were $125.41 million, consisting of $60.22 million for PHEs, $55.44 million for PHE Units and $9.75 million for heat meters, an overall decrease of $60.19 million or 48%. The decrease in sales was due primarily to a 45% decrease in sales volume in 2011 compared to 2010. SmartHeat closed at $5.25 on Tuesday.

Shares of Joe's Jeans

, the Commerce, CA apparel producer, rose 13% Tuesday on 5 times the average daily volume. In an 8K filing released Tuesday, it was stated On March 29, 2012, Joe's Jeans received notification from Nasdaq that it determined that since for 10 consecutive trading days, from March 15, 2012 to March 28, 2012, the closing bid price of the Company's Common Stock was at $1.00 per share or greater, the Company regained compliance with the Bid Price Rule and the matter was now closed. Joe's Jeans closed at $1.38 on Tuesday.