Crocs, TerreStar: Midday Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Thursday's session.
Crocs (CROX) jumped by 78 cents, or 12.4%, to $7.08 after Business Standard reported that the company will expand its India business by more than doubling the number of stories in the country this year. Volume topped 9.41 million shares, compared to the 50-day average daily volume of 2.84 million, according to the Nasdaq.
China Information Security Tech (CPBY) rallied by 60 cents, or 10.2%, to $6.48 after the company said it signed a record $36.73 million in contracts during the fourth quarter, an increase of 30% over the year-ago period and 22% sequentially. Chairman and CEO Jiang Huai Lin said he remains "very confident in our ability to achieve our financial goals for 2009 and 2010." Volume topped 2.13 million shares, compared to the 50-day average daily volume of 519,000.
TerreStar (TSTR) gained 24 cents, or 22.9%, to $1.29 after the company said the Federal Communications Commission granted a subsidiary the authority to integrate terrestrial use of TerreStar's 20 MHz S Band spectrum into its next generation mobile wireless network. Volume topped 7.72 million shares, compared to the 50-day average daily volume of 982,000.American Defense Systems (EAG) rose by 4 cents, or 11.1%, to 40 cents after the company said it has recently received several orders from the U.S. Army's TACOM Life Cycle Management Command for new ADSI crew protection kits (CPKs), spare parts and field services totaling approximately $9.8 million. Volume topped 207,000 shares, compared to the three-month average daily volume of 52,000, according to Yahoo! Finance. -- Written by Robert Holmes in Boston. Check out all of Thursday'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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