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Pacific Ethanol, Mannkind: Volume Movers

BOSTON ( TheStreet) -- Pacific Ethanol (PEIX - Get Report) was one of several stocks trading near $5 poised to move on above-average volume Tuesday after the company reported second-quarter financial results.

Pacific Ethanol said it had second-quarter net income available to shareholders of $107.8 million, which includes a non-cash gain of $119.4 million related to the disposition of liabilities after the company exited bankruptcy. Including gains, per-share earnings totaled $1.43, compared with a year-ago loss of 49 cents a share. Revenue was up 9.5% to $76.8 million, Pacific Ethanol said.

Shares of Pacific Ethanol jumped by 9 cents, or 17.3%, to 61 cents in the premarket session. The average daily share volume for Pacific Ethanol is 1.83 million.

Elsewhere, Rick's Cabaret (RICK - Get Report) dropped by 62 cents, or 8.7%, to $6.50 in Monday's after-market session after the company said it had a fiscal third-quarter profit of 9 cents a share, excluding one-time non-cash write-offs. Revenue fell 5% from a year ago to $19.9 million.

During the company's conference call, Rick's Cabaret CEO Eric Langan said the company no longer expects to meet its previous full-year earnings guidance of 95 cents to $1.05 a share, citing inconsistent customer spending. The average daily share volume for Rick's Cabaret is 103,000.

Mannkind (MNKD) fell by 41 cents, or 6%, to $6.41 in the premarket session after the company said it will lend 8 million shares of common stock to Bank of America, which will be sold as a short position by Merrill Lynch.

The short position will be used to hedge against the risks facing institutional investors who buy up to $115 million in convertible notes from Mannkind. The average daily share volume for Mannkind is 1.41 million.

Delcath Systems (DCTH - Get Report) slipped by 4 cents, or 0.6%, to $7.11 in the premarket session after the company said it will offer approximately 5.19 million shares of common stock, with proceeds to be used for clinical trials, research and development and other costs. The average daily share volume for Delcath Systems is 1.83 million.

-- Written by Robert Holmes in Boston.

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

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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