NEW YORK (TheStreet) -- Sirius XM (SIRI) is among a handful of stocks trading near $5 poised to move on above-average volume Wednesday after the satellite radio provider offered subscriber metrics for its first quarter.
Sirius XM said it added 171,441 net subscribers in the first quarter of 2010, ending the three-month period with 18.94 million subscribers. That compares with a net loss of 404,422 subscribers in the first quarter of 2009. Deactivations fell by 11% compared to the first quarter of 2009, while gross additions rose 29%. Self-pay churn and conversation rate metrics also improved from the year-ago quarter.
Sirius XM, which said it will report full results in May, sports a 50-day average daily share volume of 160.97 million shares. More than 205 million shares changed hands on Tuesday after Janco Partners upgraded Sirius XM to buy from accumulate and raised its stock price target to $1.30 from 80 cents, citing operating leverage on a market rebound. Shares ended Tuesday's session at 96 cents.
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