BOSTON (TheStreet) -- ICOP Digital (ICOP) was one of several stocks trading below $5 and poised to move on above-average volume Thursday after the digital surveillance technology company posted second-quarter financial results.
ICOP Digital retraced some of its recent surged after the company said it had a second-quarter net loss of $1.14 million, or 48 cents a share, compared with a year-ago net loss of $1.39 million, or $1.44 a share. The difference in the per-share loss is due to a larger number of outstanding shares than in the year-ago quarter. Gross margin fell to 42.8% from 53.3% in the same period in 2009, primarily due to currency risk, ICOP Digital said.
The earnings release came shortly after ICOP Digital said it has been selected by the U.S. Department of Homeland Security to outfit more than 100 vehicles with its in-car video systems. The order includes recording of mobile video/audio, wireless uploading, and live streaming video capability. Due to the security nature of the project, ICOP agreed not to release details of the project until the Department of Homeland Security issues its own press release.
After rallying 168% during Wednesday's session, shares of ICOP Digital fell by 37 cents, or 12.2%, to $2.66 in the premarket session. The average daily share volume for ICOP Digital is 235,000.Elsewhere, inTEST (INTT) jumped by 16 cents, or 5.3%, to $3.16 in Wednesday's late trading session after the semiconductor products maker reported a second-quarter profit of 31 cents a share, compared with a year-ago profit of 11 cents a share. inTEST said third-quarter revenue and net income should fall between levels achieved in first two quarters of 2010 due to reduced bookings in the second quarter. The average daily share volume for inTEST is 209,000. Somaxon Pharmaceuticals (SOMX) fell by 13 cents, or 3.2%, to $3.89 in Wednesday's after-market session after the company reported a second-quarter loss of 16 cents a share, compared to the two-analyst estimate for a loss of 11 cents a share. The average daily share volume for Somaxon is 2.33 million. CardioNet (BEAT) may see increased volume after the mobile cardiac outpatient monitoring company said the U.S. District Court for the Eastern District of Pennsylvania granted the Company's motion to dismiss the securities class action litigation filed in August 2009 against the company and certain of its former officers. The average daily share volume for CardioNet is 394,000. The complaint charged CardioNet and some of its former officers and directors with making positive statements about the company's revenue and earnings while either "knowingly or recklessly" disregarding that the reimbursement rate for CardioNet's mobile cardiac outpatient telemetry (MCOT) system was likely to be reduced by commercial providers. -- Written by Robert Holmes in Boston. Check out all of Thursday'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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV