NEW YORK ( TheStreet) -- Several small-cap stocks were moving on above-average volume during Thursday's session. Harmonic ( HLIT) dropped by 64 cents, or 10.8%, to $5.30 after the company reported a third-quarter adjusted profit of 5 cents a share, falling short of the Thomson Reuters average estimate of 6 cents a share. Volume topped 1.4 million shares, compared to the 50-day average daily volume of 722,000, according to the Nasdaq. Cytokinetics ( CYTK) tumbled by 75 cents, or 17.6%, to $3.52 Needham downgraded the stock to hold from buy due to the delay of its CK-452 heart drug treatment program and lack of near-term catalysts to drive valuation. The downgrade comes a day after the company reported a third-quarter net loss of $8.2 million, or 14 cents a share. Volume topped 1.2 million shares, compared to the 50-day average daily volume of 602,000, according to the Nasdaq. SkyPeople Fruit Juice ( SPU) plummeted by $3.81, or 58.3%, to $2.73 after the company announced the pricing of a public offering by two selling stockholders. As part of the transaction, selling stockholders exercised warrants to purchase 2.7 million shares of common stock. SkyPeople will receive approximately $6.9 million in gross proceeds from the exercise of these warrants. Under terms of the agreement, the selling stockholders have granted the underwriters an option to purchase up to an additional 405,000 shares for an additional $1 million in gross proceeds. Volume topped 281,000 shares, compared to the three-month average daily volume of 1,200, according to Yahoo! Finance.
Central Pacific Financial ( CPF) lost 91 cents, or 38.7%, to $1.44 after the company reported a third-quarter adjusted net loss of $71.7 million, or $2.54 a share, as the company was impacted by increased credit costs resulting from further deterioration in the Hawaii and California commercial real estate markets. Volume topped 3.9 million shares, compared to the three-month average daily volume of 1.2 million, according to Yahoo! Finance. Giga-tronics ( GIGA) jumped by 72 cents, or 37.3%, to $2.65 after the company late Wednesday swung to a third-quarter net profit of $373,000 or 8 cents a share, compared with a year-ago loss of $540,000 or 11 cents a share. Excluding share based compensation, earnings totaled 9 cents a share, the company said. Volume topped 175,000 shares, compared to the 50-day average daily volume of 11,000, according to the Nasdaq. Build-A-Bear Workshop ( BBW) slid by 40 cents, or 7.2%, to $5.19 after the company reported a third-quarter loss of $4.8 million, or 25 cents a share, wider than the year-ago loss of 11 cents a share. The adjusted loss totaled 12 cents a share, worse than the Thomson Reuters average estimate for a loss of 6 cents a share. Volume topped 185,000 shares, compared to the three-month average daily volume of 117,000, according to Yahoo! Finance. -- Written by Robert Holmes in New York. Check out all of Thursday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.