NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Thursday's session.
Aehr Test Systems (AEHR) should trade higher Thursday after the memory device systems testing company swung to a third-quarter adjusted profit of 18 cents a share from a year-ago loss of 28 cents a share. Revenue jumped 300% to $5.2 million. Shares closed Wednesday at $2.68 and rose 8.1% in late trading. The 50-day average daily volume for Aehr Test Systems is 33,000, according to the Nasdaq.
China GrenTech (GRRF) dropped by 77 cents, or 20%, to $3.08 in the premarket session after the wireless coverage products company eked out a fourth-quarter profit of 0.002 cent, below the single analyst estimate for a profit of 5 cents a share. Looking ahead to the first quarter, the company said that due to an "exceptional" performance in 2009, revenue in the first quarter of 2010 will be below year-ago levels. The 50-day average daily volume for China GrenTech is 112,000.
EF Johnson Technologies (EFJI) fell by 5 cents, or 5.3%, to 89 cents in the premarket session after the secure wireless communications provider posted a fourth-quarter loss of 36 cents a share as revenue dropped 36% from a year ago to $16.3 million. The company said the decline in revenue was primarily due to delays in shipping land mobile radio products to certain federal, state and local customers. The 50-day average daily volume for EF Johnson is 36,000.Cheniere Energy (LNG) may trade higher after the company confirmed a multi-year partnership with JPMorgan Chase (JPM), where the bank will gain capacity rights at Sabine Pass in Louisiana for its clients. The Wall Street Journal reported that both companies will also share profits from transactions they arrange together for clients shipping the fuel, citing to people familiar with the matter. The three-month average daily volume for Cheniere is 521,000, according to Yahoo! Finance. -- Written by Robert Holmes in Boston. Check out all of Thursday'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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