NEW YORK (
) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.
tumbled by 65 cents, or nearly 20%, to $2.62 in the premarket session after the company announced a financing deal. Zanett said it will issue a convertible note in principal amount of $7.13 million in exchange for a $5.32 million promissory note and $3 million line of credit. The new convertible note bears a rate of 7.95% and matures in March 2015. The initial conversion price of the principal and any accrued but unpaid interest on the convertible note is $2.08 per share. On Tuesday,
shares soared by 77% after the company announced contract signings for the first quarter. The 50-day average daily volume for Zanett is 1.36 million, according to the
slid by 8 cents, or 9.1%, to 80 cents in Tuesday's after-market session after the company said it intends to offer units consisting of shares of its common stock and warrants to purchase shares of its common stock in a public offering. Net proceeds from the offering will be used to fund the expansion of its ongoing Phase II clinical trial of CD-NP in acute heart failure patients, and for general corporate purposes and working capital. No other details were disclosed. The 50-day average daily volume for Nile Therapeutics is 8,900.
(HNSN - Get Report)
may trade lower Wednesday after the company offered weak revenue guidance for the first quarter. Hansen said it sees first-quarter revenue in a range of $2.5 million to $2.7 million, which is below the $6 million consensus target, according to Thomson Reuters. Hansen said it shipped seven of its Sensei Robotic Catheter Systems in the later part of the quarter, but those will not be accounted for in the first quarter due to revenue recognition policies. Hansen Medical shares finished Tuesday at $2.40. The 50-day average daily volume for Hansen is 366,000.
Allied Irish Banks
jumped by 12 cents, or 3.3%, to $3.79 in the premarket session after Royal Bank of Scotland upgraded the stock to buy from sell. The three-month average daily volume for Allied Irish Banks is 4.91 million, according to Yahoo! Finance.
-- Written by Robert Holmes in Boston
Check out all of Monday's high-volume, under-$5 stocks at the Dollar Store
Follow Robert Holmes on
and become a fan of TheStreet.com on