NEW YORK ( TheStreet) -- Several stocks trading under $5 were poised to move on above-average volume during Tuesday's session.
Netlist (NLST) fell by 86 cents, or 15%, to $4.90 in the premarket session after semiconductor maker Inphi late Monday said it has filed a patent infringement lawsuit against Netlist in a California court. Netlist countered Tuesday that the legal action filed by Inphi is "without merit" and may be in response to a patent infringement action filed by Netlist against Inphi in September. The 50-day average daily volume for Netlist is 2.8 million, according to the Nasdaq.
Linktone (LTON) dropped by 33 cents, or 14%, to $2.03 in the premarket session after the company late Monday reported earnings of a penny per American Depositary share on revenue of $13.8 million, below the single analyst estimate for revenue of $17.5 million. Looking ahead, Linktone said it expects fourth-quarter revenue of $14 million to $15 million. The 50-day average daily volume for Linktone is 189,000.
Novavax (NVAX) added 10 cents, or 3.3%, to $3.10 in the premarket session after Piper Jaffray initiated coverage of the stock with an overweight rating and a price target of $4.50. The 50-day average daily volume for Novavax is 3.8 million.GSI Technology (GSIT) jumped by 73 cents, or 15.6%, to $5.40 in the premarket session, extending a rally sparked Monday after the semiconductor maker introduced two new SRAM products it promises will perform up to 50% faster than its nearest competitors. The 50-day average daily volume for GSI Technology is 96,000. Anthracite Capital (AHR) plummeted by 15 cents, or 41.5%, to 22 cents in the premarket session after the company said it has defaulted on an unsecured debt payment. Anthracite said it is discussing the events of default and situation with its creditors, "but there can be no assurance that such discussions will result in the continuing operations of the company." The three-month average daily volume for Anthracite is 2.6 million, according to Yahoo! Finance. -- 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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