Sirius XM, Conolog: Early Volume Plays

NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.

Sirius XM (SIRI) rose by 3 cents, or 3.8%, to 89 cents in the premarket session after Wunderlich Securities said the recent confusing stock action sparked by differing estimates for March auto sales actually belies good news. The firm said that what 
matters long term for Sirius XM is the sustainable run rate for U.S. vehicle 
sales rather than monthly aberrations. The 50-day average daily volume for Sirius XM is 107.96 million, according to the Nasdaq. More than 237 million shares changed hands Monday.

Stockpickr Answers What are SIRI's prospects if it's delisted by the Nasdaq?

Conolog (CNLG) slipped by 2 cents, or 1.3%, to $1.52 in the premarket session after the electronic communications components maker posted quarterly results for the quarter ended Jan. 31. Conolog reported a loss of 99 cents a share on revenue of $111,920, compared with a year-ago loss of 3 cents a share on revenue of $488,959. The 50-day average daily volume for Conolog is 1.69 million.

>>Stocks With Unusual Trading Volume

Dynavax Technologies (DVAX) jumped by 20 cents, or 15.8%, to $1.47 in the premarket session after the biopharmaceutical company reported positive findings from safety analysis of Heplisav, its experimental hepatitis B vaccine. The 50-day average daily volume for Dynavax is 328,000.

BioSante Pharmaceuticals (BPAX) gained 15 cents, or 8.6%, to $1.89 in the premarket session after the company announced additional positive Leukemia vaccine results and second FDA Orphan drug designation for its GVAX AML Vaccine in the treatment of acute myeloid leukemia. The 50-day average daily volume for is 653,000.

The PMI Group (PMI) rallied by 36 cents, or 11.5%, to $3.50 in the premarket session after Freddie Mac (FRE) approved the mortage insurance company as an Eligible Mortgage Insurer. The three-month average daily volume for is 3.65 million, according to Yahoo! Finance.

-- Written by Robert Holmes in Boston.

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