NEW YORK ( TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Monday's session. China Direct Industries ( CDII) rallied by 37 cents, or 31.4%, to $1.55 after the U.S.-owned holding company said it would begin offering an annual financial outlook due to improved visibility. China Direct said it now expects full-year 2010 revenue of $130 million to $150 million, inline with the consensus target of $145.3 million. Volume topped 1.78 million shares, compared to the 50-day average daily volume of 157,000, according to the Nasdaq. Delta Petroleum ( DPTR) jumped by 23 cents, or 22.1%, to $1.27 after Total's ( TOT) acquisition of a 25% interest in Chesapeake Energy's ( CHK) upstream Barnett Shale assets in a $2.25 billion joint venture sparked speculation of more consolidation in the industry. The deal comes just weeks after Exxon Mobil ( XOM) acquired XTO Energy ( XTO) for $31 billion. Delta's share volume topped 10 million, compared to the 50-day average daily volume of 9.49 million. ICx Technologies ( ICXT) and Intellicheck Mobilisa ( IDN) slumped by 8.6% and 4.8% to $8.70 and $3.57, respectively, giving back some the previous week's gains sparked by a terrorist's attempt to blow up a Detroit-bound plane on Dec. 25. Since the incident, ICx has rallied 75% and Intellicheck shares have jumped 169%. ICx's share volume totaled 1.72 million, more than four times the 50-day average daily volume. Intellicheck Mobilisa saw nearly 1.7 million shares change hands before 11 a.m. EST Monday, compared with the three-month average daily volume of 192,000. GenVec ( GNVC) jumped by 37 cents, or 16.2%, to $2.65 in the absence of any company-specific news. Traders posting on Internet message boards speculated that due to increased volume, Monday's climb was a result of a short squeeze. GenVec had a short interest float of 11.3% as of Dec. 15, according to Yahoo! Finance. Volume topped 2 million shares, compared to the 50-day average daily volume of 1.46 million. -- Written by Robert Holmes in Boston. Check out all of Monday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
Delta Petroleum Corporation (Nasdaq:DPTR) hit a new 52-week low Tuesday as it is currently trading at 66 cents, below its previous 52-week high of $1.37 with two million shares traded as of 1:56 p.m. ET. Average volume has been 4.4 million shares over the past 30 days.