NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.
Osteotech (OSTE) jumped by 24 cents, or 6.1%, to $4.20 in the premarket session after the medical technology company said its MagniFuse bone grafting technology platform was distributed to 68 U.S. hospitals and has generated revenue of $1 million in the first four months since its launch. The 50-day average daily volume for Osteotech is 103,000, according to the Nasdaq.
RF Micro Devices (RFMD) gained 21 cents, or 4.4%, to $5.03 in the premarket session after the semiconductor company said it expects fourth-quarter earnings of 11 cents to 12 cents a share on revenue of $240 million to $245 million, which is better than the Thomson Reuters average estimate for a profit of 10 cents a share on revenue of $231.8 million. The company said it is seeing broad-based strength in its core business, with current customer demand significantly outpacing original expectations in both the cellular products group and multi-market products group. The 50-day average daily volume for RF Micro is 7.96 million.
YMI BioSciences (YMI) may trade lower after the company said it is increasing a previously announced registered direct offering from $15 million to $17.5 million. On Friday, YMI said it will raise $15 million in a registered direct offering at a price of $1.20 per unit. Each unit consists of one common share and one half of one common share purchase warrant. The funds will be used principally to fund YM's drug development activities, the company said. The three-month average daily volume for YMI is 344,000, according to Yahoo! Finance.General Moly (GMO) was poised to extend Friday's rally, sparked by General Moly's announcement that Chinese firm Hanlong Mining Investment has agreed to buy a 25% equity stake for $80 million and will arrange for and guarantee for a $665 million bank loan from a Prime Chinese Bank in order to fully finance a Nevada molybdenum mine. The three-month average daily volume for General Moly is 888,000. China Mass Media (CMM) rallied by 42 cents, or 12.7%, to $3.72 in the premarket session after the television advertising company topped earnings and revenue estimates with its fourth-quarter results. The three-month average daily volume for China Mass Media is 75,000. -- Written by Robert Holmes in Boston. Check out all of Monday'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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