Blockbuster, CalAmp: Early Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Thursday's session.
CalAmp (CAMP) was set to trade lower Thursday after the wireless communications solutions company filed late Wednesday for a 2.4 million common stock offering by selling stockholders. The 50-day average daily volume for CalAmp is 97,000, according to the Nasdaq. The stock closed Wednesday's session at $3.15.
Inspire Pharmaceuticals (ISPH) should open lower after the company said its Prolacria dry eye disease treatment did not meet its primary endpoint or its secondary endpoint in a Phase 3 clinical trial. The 50-day average daily volume for Inspire is 605,000 shares. Inspire shares ended Wednesday at $6.61.
Sinoenergy (SNEN) is also expected to see losses Thursday after the natural gas equipment maker said an auditor has included a "going concern" qualification in a report on the company's financial statements. Sinoenergy added that it has incurred a substantial amount of bank debt and other term debt and the ability to meet its obligations "is dependent upon certain factors outside of its control." The 50-day average daily volume for Sinoenergy is 53,000. The stock closed Wednesday at $1.83.Blockbuster (BBI) will be under pressure Thursday after the video rental chain lowered its outlook for its full-year results following a challenging holiday quarter. Blockbuster now expects a full-year net loss in the range of $183 million to 193 million, excluding any impairment of goodwill and other long-lived assets. Following the announcement, Janney Montgomery Scott analysts downgraded the stock to neutral from buy. The three-month average daily volume for Blockbuster is 2.27 million, according to Yahoo! Finance. Shares finished Wednesday's session at 73 cents. -- 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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