(Sirius XM article updated with additional analyst insights and the movement of Sirius XM stock.)NEW YORK ( TheStreet) -- After teasing investors in mid-February with the promise of a share-price breakthrough, Sirius XM ( SIRI - Get Report) has once again fallen back into penny-stock status. On the upside, though, for traders who like liquidity: More than 120.6 million shares of Sirius XM stock had changed hands by late afternoon Monday, compared to a 50-day average daily volume of 84.1 million for the stock. Sirius XM stock settled down 4.6% to 90 cents on Monday. Sirius XM's current status can be attributed to an expected announcement from Cisco ( CSCO - Get Report) about the easing of some capacity issues relating to 3G and 4G networks, given that investors have been worrying about the impact that mobile Internet technologies could have on Sirius XM's business, according to Wunderlich Securities analyst Matthew Harrigan. Harrigan lowered his rating on SIRIUS XM to hold from buy on March 1, while maintaining a $1 target, alluding to U.S. auto market concerns. Recently, Harrigan saw an increase in fleet sales to rental companies and corporations, which is only mildly beneficial to Sirius XM. Car sales are, of course, far more important for the company's growth. Nevertheless, Harrigan remains relatively unconcerned about Sirius XM being delisted. Given the company's large market cap and brand visibility, Harrigan thinks that Sirius XM will get another six-month extension to regain compliance with NASDAQ listing requirements. -- Reported by Andrea Tse in New York Follow TheStreet.com on Twitter and become a fan on Facebook.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Stocks
Replay: Jim Cramer on Earnings Season, China and Amazon Prime Day
Jim Cramer's breaking down what he expects from earnings season, China's slowing growth, and Amazon's Prime day sale.
Prime Day Isn't Just For Amazon -- Target, Walmart, Others Want a Piece Too
Amazon's retail competitors will see a 79% revenue lift around Prime Day, according to a projection from Adobe Analytics.
Jim Cramer: Even if Slowdown Hits, You'll Look Good With These Six Stocks
Estee Lauder is among the companies that are sure winners, no matter which way the economy goes.
Slack Rallies by 3% as Research Firms Initiate Bullish Coverage
Canaccord, Barclays and William Blair all published bullish notes on the messaging service, which went public via a direct listing in June.
Earnings to Soon Give Insight into Market's Strength
Are we seeing low-volume consolidation setting stage for thrust higher or is this stalling action suggesting a rollover? The answer depends on how earnings season develops.