NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session. Smart Modular Technologies ( SMOD) shares rallied by 87 cents, or 14.3%, to $6.95 in the premarket session after the memory subsystems company raised its fiscal second-quarter earnings guidance to a range of 14 cents to 16 cents a share, well ahead of the Thomson Reuters average estimate of 8 cents a share. The company's second-quarter revenue guidance is also above consensus. Smart Modular also offered better-than-expected earnings and revenue guidance for its fiscal third quarter. The 50-day average daily volume for Smart Modular is 622,000, according to the Nasdaq. Cosan Limited ( CZZ) jumped by 60 cents, or 7.7%, to $8.40 in the premarket session after Reuters reported that the sugar and ethanol company signed a $12 billion ethanol deal with Royal Dutch Shell ( RDS.A). The three-month average daily volume for Cosan is 1.8 million, according to Yahoo! Finance. Ness Technologies ( NSTC) gained by 45 cents, or 8.1%, to $5.99 in the premarket session after the business services company won a public tender worth $19 million to provide online land registry services to the Geodesy, Cartography and Cadastre Authority of the Slovak Republic. The 50-day average daily volume for Ness Technologies is 160,000. Highway Holdings ( HIHO) jumped by 24 cents, or 13.4%, to $2.02 in the premarket session after the integrated manufacturer reported a fiscal third-quarter profit of 7 cents a share, more than doubling year-ago results. The 50-day average daily volume for Highway Holdings is 15,000.
Shares of SMART Modular Technologies (Nasdaq:SMOD) were gapping up Tuesday morning with an open price 13.1% higher than Monday's closing price. The stock closed at $8.18 yesterday and opened today's trading at $9.25.
SMART Modular Technologies (Nasdaq:SMOD) hit a new 52-week high Friday as it changed hands at $8.77 compared with its previous 52-week high of $8.75. SMART Modular is currently trading at $8.77 with 832,497 shares changing hands as of 10:52 a.m.