Early Volume Plays Among Those Valued Below $10 (CCRT, MPET, WSTL, IMOS)

Some of the stocks that are valued below $10 and have the potential to become one of the high volume movers in the early trading hours are: CompuCredit Holdings CCRT may lose investors’ faith post the downgrade by Keefe Bruyette & Woods from “market perform” to “underperform.” The analysts cited "significant potential downside to the shares" as the reason for reducing its rating on the stock. CCRT closed at $5.56 yesterday and lost 1.08% in the pre-market trading session, to $5.50. Its 50-day average daily volume is 161,000. Magellan Petroleum MPET soared 8.6%, to $1.76 in the after-hours session late yesterday, after the company announced that Luxembourg-based Young Energy Prize will invest an additional equity of $15.6 million in MPET. The stock jumped 8.64% to $1.76 in pre-market hours. The 50-day average daily volume for MPET is 278,000. Westell Technologies WSTL announced a Q4 profit of $0.04 a share on revenue of $37.8 million. The analysts were expecting a profit of $0.03 a share. After closing at $1.40 yesterday, shares of WSTL jumped 5% to $1.47 in after-hours trading. The networking equipment company has a 50-day average daily share volume of 155,000. ChipMOS Technologies IMOS posted an adjusted Q1 profit of $0.11 a share, reversing its year-ago loss of $0.13 a share. IMOS’ revenue surged 61% from last year to $115.7 million. The company expects to deliver 17%-23% sequential revenue growth for Q2 revenue. Following the earnings release, IMOS shares rose 10.9% to $1.83 in the after-hours session. By 9:37 am today, they had climbed 10.30% to $1.82. The 50-day average daily volume of the stock is 984,000. Read more from Benzinga's Markets.
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Posted In: EarningsNewsDowngradesPre-Market OutlookIntraday UpdateMarketsAnalyst RatingsMoversCommunications EquipmentConsumer FinanceEarly Volume PlaysEnergyFinancialsInformation TechnologyKeefe Bruyette & WoodsOil & Gas Exploration & ProductionSemiconductors
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