Sprint, OceanFreight: Early Volume Plays

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

OceanFreight (OCNF) should trade sharply higher Wednesday after the company said that it has entered into an agreement to build three 206,000 DWT Very Large Ore Carriers (VLOCs) at Shanghai Waigaichao Shipbuilding. The total purchase price for the three vessels is approximately $204 million. The stock closed at 75 cents Tuesday but jumped 11.3% in the after-market session. The 50-day average daily volume for OceanFreight is 3 million, according to the Nasdaq.

Lime Energy (LIME) shares tumbled by 79 cents, or 15.2%, to $4.40 in the premarket session after the renewable energy company posted a fourth-quarter loss of 26 cents a share, compared to the Thomson Reuters average estimate for a loss of 8 cents a share. Revenue dropped 29% from a year ago to $20.3 million, which was slightly below consensus. The 50-day average daily volume for Lime Energy is 63,000.

Sprint Nextel (S) jumped by 28 cents, or 7.3%, to $4.11 in the premarket session after the wireless provider and HTC Corp. jointly announced the first 3G/4G handset to run on Google's (GOOG) Android platform, the HTC EVO 4G. The device will be available in the summer, the companies said. The three-month average daily volume for Sprint is 54.69 million, according to Yahoo! Finance.

MF Global (MF) rallied by $1.34, or 18.4%, to $8.67 in the premarket session after the investment company said it has appointed Jon Corzine as chairman and CEO. MF Global also said it expects fourth-quarter revenue of $235 million to $245 million, which is below the $260.61 million consensus. The three-month average daily volume for MF Global is 1.52 million.

USEC (USU) rose by 26 cents, or 4.9%, to $5.62 in the premarket session after the uranium supplier said the Department of Energy has agreed to provide $45 million in funding to USEC to fund on-going American Centrifuge technology demonstration and manufacturing activities. The three-month average daily volume for USEC is 1.88 million.

-- Written by Robert Holmes in Boston.

Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

>To order reprints of this article, click here: Reprints