Perma-Fix, Oculus: Early Volume Plays

NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Wednesday's session.

Perma-Fix Environmental Services (PESI) jumped by 28 cents, or 13%, to $2.44 after the environmental technology company posted a fourth-quarter profit of 10 cents a share, up from a year-ago profit of a penny a share. Revenue of $28.4 million was up 21% from a year ago and was better than analysts had predicted. Additionally, gross margins in the company's nuclear segment jumped to 31.6% from 21.4%. Volume topped 180,000 shares, compared to the 50-day average daily volume of 118,000, according to the Nasdaq.

Oculus Innovative Sciences (OCLS) surged by 90 cents, or 49.7%, to $2.71 after the biopharmaceutical company said it received first clearance from the Food and Drug Administration for its microcyn-based HydroGel for the dermatology market. HydroGel is to treat itch and pain relief associated with skin irritations, sores, injuries and ulcers of dermal tissue. Volume topped 2 million shares, compared to the 50-day average daily volume of 122,000.

China Gerui Advanced Materials (CHOP) rose by 45 cents, or 6.2%, to $7.74 after the company posted a fourth-quarter profit of 27 cents a share on revenue of $57.2 million, which beat the two-analyst estimate for earnings of 19 cents a share on revenue of $52 million. China Gerui also offered better-than-expected revenue guidance for the first quarter. Volume topped 668,000 shares, compared to the 50-day average daily volume of 270,000.

Gushan Environmental Energy (GU) sank by 12 cents, or 9.3%, to $1.17 after the biodiesel company posted a fourth-quarter loss of 15 cents a share, which was worse than the single analyst estimate for a loss of 11 cents a share. Revenue of $10.6 million was down 77% from a year ago and also below the lone analyst prediction of $16.1 million. Volume topped 433,000 shares, compared to the three-month average daily volume of 593,000, according to Yahoo! Finance.

-- Written by Robert Holmes in Boston.

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