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Sirius XM, Radient Pharmaceuticals: Early Volume Plays

NEW YORK ( TheStreet) -- Sirius XM (SIRI - Get Report) 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.

>> Also See: Top Sirius ETFs

Elsewhere, Kulicke & Soffa (KLIC - Get Report) shares surged by $1.36, or 17.3%, to $9.22 in Tuesday's after-market session after the semiconductor equipment maker reported second-quarter revenue of $153 million, which was above the $146.4 million consensus target, and guided third-quarter revenue above estimates. Kulicke & Soffa said it expects third-quarter revenue of $205 million, citing "unprecedented demand for both ball bonders and wedge bonders."

"This same strength in demand gives us visibility into the beginning of the September quarter and while it is too early to give guidance for that quarter, so far we are seeing a continuation of current customer demand patterns," Kulicke & Soffa said in the release. The 50-day average daily volume is 1.66 million.

Ameris Bancorp (ABCB - Get Report) fell by 50 cents, or 5.2%, to $9.14 in Tuesday's late session after the company reported a first-quarter loss of 17 cents a share and said it has filed for a $12 million common stock offering. Ameris Bancorp added that it has commenced a separate $60 million offering it filed in March. The 50-day average daily volume for Ameris Bancorp is 36,000.

Radient Pharmaceuticals (RPC) is set to continue its recent slide after the company announced a dilutive financing deal late Tuesday. Radient announced the second closing of a 12% convertible promissory note and warrant financing for the sale of additional notes in the aggregate principal amount of $5.52 million. The warrants have a term of five years and are initially exercisable at 28 cents per share, the company said.

Radient shares closed Tuesday at $1.70 after falling 22.4% during the session ahead of the financing announcement. The three-month average daily volume for Radient is 2.2 million, according to Yahoo! Finance.

-- Written by Robert Holmes in Boston.

Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr.

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ABCB $26.58 0.00%
KLIC $11.48 0.00%
SIRI $3.42 0.00%
AAPL $94.02 0.00%
FB $104.07 0.00%


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