Halozyme, Beazer: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Wednesday's session.
Halozyme Therapeutics (HALO) should open lower Wednesday after the company late Tuesday filed a $100 million mixed securities shelf offering. The 50-day average daily volume for Halozyme is 397,000 shares, according to the Nasdaq. The stock closed Tuesday at $6.06, down nearly 1%.
Beazer Homes (BZH) is expected to lose ground Wednesday after the homebuilder said late Tuesday that it will issue 18 million shares of common stock and $50 million in mandatory convertible subordinated notes due 2013. The three-month average daily volume for Beazer is 2.3 million shares, according to Yahoo! Finance. Shares of Beazer fell nearly 8% in Tuesday's after-hours session to $5.
Versar (VSR) may see increased trading volume Wednesday after the company said it has acquired U.K. protective equipment maker Professional Protection Systems. The acquisition, which is expected to be accretive in the first year, will add approximately $5 million in annualized gross revenue, Versar said. The three-month average daily volume for Versar is 26,000. Shares slid 0.7% Tuesday to close at $3.06.
Nautilus Group (NLS) should also see volume pick up after the company said it has completed the sale and licensing of certain assets of its commercial business to Xiamen World Gear Sports Goods. The sale is part of the company's decision to shed its commercial business so management can focus on consumer retail and direct businesses. Nautilus also said it will receive a federal tax refund of roughly $12.1 million before Jan. 31, about two months earlier than it had anticipated. The three-month average daily volume for Nautilus is 111,000. After falling almost 3% in trading Tuesday, Nautilus shares rallied 6% in the after-hours session to $2.15. -- Written by Robert Holmes in Boston. Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.Select the service that is right for you!
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