Sino Clean Energy, Zale: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Friday's session.
Sino Clean Energy (SCLX) rallied by 16 cents, or 21.3%, to 91 cents after the company posted full-year net income of 11 cents a share in 2009, compared with earnings of 3 cents a share in the prior year. Revenue jumped 223% in 2009 to $46 million. Looking ahead, Sino Clean Energy said it expects 2010 revenue of at least $105 million and adjusted net income of at least $25 million, which would equal a 127% jump over 2009's levels. Volume topped 2.01 million shares, compared to the three-month average daily volume of 912,000.
Lihua International (LIWA) jumped by 88 cents, or 10.9%, to $8.95 after the bimetallic wire manufacturer priced a secondary offering of 3.72 million shares at $8.05 per share. Volume topped 1.61 million shares, compared to the 50-day average daily volume of 358,000, according to the Nasdaq.
SciClone Pharmaceuticals (SCLN) rose by 32 cents, or 8.7%, to $3.99 after BWS Financial analysts upgraded the stock to buy from hold with a price target of $7.25. Volume topped 463,000 shares, compared to the 50-day average daily volume of 505,000.Zale (ZLC) fell by 27 cents, or 7.1%, to $3.53 after Soleil Securities downgraded the retailer to sell from hold, noting that bankruptcy is still a possibility despite a report of a private-equity firm acquiring a minority stake in Zale. Soleil argued that even with new money, a successful turnaround is far from certain. Volume topped 1.11 million shares in the first 30 minutes of trading Friday, compared to the three-month average daily volume of 2.34 million, according to Yahoo! Finance. -- Written by Robert Holmes in Boston. Check out all of Friday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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