NASDAQ volume leaders for stocks trading under 10.00 on Thursday included Huntington Bancshare (HBAN), Mannkind Corporation (MNKD), Micron Technology (MU), Dryships Inc. (DRYS), and Brocade Communications (BRCD).
Huntington Bancshare (HBAN) reported a $39 million profit for their fourth quarter and that news pushed trading volume to 35,911,131, well above their average volume of 22.5 million. Despite the high volume shares dipped 2.16% on the day to close at 6.85. Shares in the company, which operates as the holding company for The Huntington National Bank that provides commercial and consumer banking services, remain above their 50-day moving average of 6.49 and their 200-day moving average of 6.05.
Mannkind Corporation (MNKD) trading volume skyrocketed to 34,393,187 on Thursday, nearly 10x its average trading volume following news that the Food and Drug Administration did not approve its inhaled insulin treatment, Afrezza. Shares tumbled 32.27% to close at 6.17 and the company, which focuses on the discovery, development, and commercialization of therapeutic products for diabetes and cancer, fell below their 50-day moving average of 7.42 and their 200-day moving average of 6.56.
Micron Technology (MU) remained close to their trading volume average on Thursday as 31,203,978 shares exchanged hands while shares bounced up 2.45% to close at 9.60 following an upgrade by UBS. Micron Technology, which engages in the manufacture and marketing of semiconductor devices worldwide, remains above the 50-day moving average of 8.11 and their 200-day moving average of 8.30.
Dryships Inc. (DRYS) saw trading volume hit 22,849,565 on Thursday, nearly 4 million shares more than their average volume. While volume jumped, shares fell 1.37% on the day to close at 5.05 and DRYS, which engages in the ownership and operation of drybulk carriers and drilling rigs that operate worldwide, continues to trail their 50-day moving average of 5.55 but they remain above their 200-day moving average of 4.84.
Brocade Communications (BRCD) stayed close to their average trading volume on Thursday, closing the day with 14,079,742 shares exchanging hands. Shares closed at 5.70 on the day, up .35% on the day and the company, which supplies end-to-end Internet protocol based Ethernet and storage area networking solutions for enterprises and service providers, staying above their 50-day moving average of 5.49 and 200-day moving average of 5.61.