Encorium Group, Zagg: Midday Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Tuesday's session.
Encorium Group (ENCO) surged by $1.22, or 57.8%, to $3.33 in the absence of any company-specific news. On Monday, Encorium said it is delaying the filing of its annual report as the company's independent registered accounting firm has not completed its audit of the company's financials. The stock hit an intraday higher of $4.69, even as some short traders posted on Internet message boards that the relatively low float of the company (1.67 million) made it a good short candidate. Volume topped 3.44 million shares, compared to the 50-day average daily volume of 251,000, according to the Nasdaq.
HSW International (HSWI) jumped by 22 cents, or 13.8%, to $1.82 after the online publishing company entered a 24-month sublease agreement with Sharecare for rental of 11,842 square feet of its corporate headquarters in Atlanta for $20.60 per square foot per year. Aggregate rental payments will be $487,890 over the next 24 months, HSW said. Volume topped 159,000 shares, compared to the 50-day average daily volume of 6,600.
Zagg (ZAGG) gained 13 cents, or 4.4%, to $3.07 after the company said it released PhotoPad, its first app designed for Apple's (AAPL) iPad device. Volume topped 408,000 shares, compared to the 50-day average daily volume of 371,000.-- Written by Robert Holmes in Boston. Check out all of Tuesday'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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