VirnetX, Move: Midday Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Friday's session.
VirnetX (VHC) shares were down 29 cents, or 4.2%, to $6.61 in very volatile trading as the real-time communications provider gears up for a court showdown with Microsoft (MSFT), set to begin on March 8. VirnetX claims that Microsoft is improperly using three patents in its Windows operating system. Shares of VirnetX rose as high as $7.19 and traded as low as $4.10 during Friday's session. Volume topped 2.9 million shares, compared to the three-month average daily volume of 304,000, according to Yahoo! Finance.
Sutor Technology Group (SUTR) lost 21 cents, or 6.7%, to $2.92 after the finished steel products manufacturer priced a common stock offering of 2.74 million shares at $2.70 per share. Volume topped 598,000 shares, compared to the 50-day average daily volume of 147,000, according to the Nasdaq.
Move Inc. (MOVE) jumped by 24 cents, or 14.1%, to $1.94 after the real estate Web site operator posted fourth-quarter revenue of $49.6 million, which was above the analyst consensus target of $47.6 million, and offered better-than-expected revenue guidance for the first quarter. Volume topped 1.19 million shares, compared to the 50-day average daily volume of 691,000.Dot Hill Systems (HILL) dropped by 26 cents, or 15.8%, to $1.39 after the data storage provider reported a fourth-quarter net loss of 18 cents a share, which was worse than the single analyst estimate for a loss of 5 cents a share in the quarter. Volume topped 894,000 shares, compared to the 50-day average daily volume of 119,000. SatCon Technology (SATC) slid by 33 cents, or 12.2%, to $2.37 after the clean energy technology company notched a fourth-quarter loss of 11 cents a share, which was below the average of two analyst estimates for al sos of 7 cents a share. SatCon also said it expects revenue of $14 million to $16 million in the first quarter, which is below the $18.5-million consensus. Volume topped 1.12 million shares, compared to the 50-day average daily volume of 563,000. -- Written by Robert Holmes in Boston. Check out all of Friday'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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