NEW YORK ( TheStreet) -- Several small-cap stocks were moving on above-average volume during Tuesday's session.
YRC Worldwide (YRCW) continued its recent slide, falling by 25 cents, or 18.9%, to $1.07. The drop comes a day after the company launched a debt exchange offer that, if successful, will cause massive dilution of shares but will likely help the company avert bankruptcy. Volume topped 18.5 million shares, compared to the 50-day average daily volume of 10 million, according to the Nasdaq.
U.S. Energy Corp. (USEG) jumped by 80 cents, or 15.6%, to $5.92 after Brigham Exploration (BEXP) late Monday said a BCD Farms well produced approximately 1,776 barrels of oil equivalent per day during an early 24 hour flow back period. Brigham has a participation agreement with U.S. Energy for the BCD Farms well. Volume topped 1 million shares, compared to the 50-day average daily volume of 619,000, according to the Nasdaq.
Hemispherx Biopharma (HEB) plummeted by 24 cents, or 18%, to $1.09 after the company said it plans to complete all outstanding queries from the Food and Drug Administration regarding its application for Ampligen, an experimental therapeutic, during the final two months of 2009. Volume topped 5.6 million shares, compared to the three-month average daily volume of 4.6 million, according to Yahoo! Finance.Chelsea Therapeutics (CHTP) fell by 64 cents, or 21.8%, to $2.30 after the company late Monday said it plans to meet with U.S. drug regulators seeking permission to change the primary endpoint of an ongoing phase III study of the droxidopa in patients with orthostatic hypotension. As a result, data from this study won't be ready for release this quarter, but will be delayed into early next year, pending the outcome of the FDA meeting, the company said. Volume topped 1.5 million shares, compared to the 50-day average daily volume of 2.3 million, according to the Nasdaq. Carmike Cinemas (CKEC) dropped by $2.62, or 27.4%, to $6.96 after the company late Monday swung to a third-quarter loss of $1.62 a share while revenue stayed flat in the quarter at $122.4 million. Merriman Curhan Ford downgraded the stock to neutral from buy following the report. Volume topped 200,000 shares, compared to the 50-day average daily volume of 52,000, according to the Nasdaq. -- Written by Robert Holmes in New York. Check out all of Tuesday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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