You should avoid the market order when buy shares, not only because the trading volume is low.
My reason is, there is a HFT fund behind this stock, which plays long but try to keep the PPS low. I assume it is Renaissance Technologies.
If you use a market order to buy, the PPS can jump up several cents. However, the HFT will immediately post a small sells below the last uptick price. Because the HFT is a long, not a short seller, it is not subject to the SEC uptick rule. I guess Renaissance Tech. is playing this legally to depress the PPS. Their purpose? Of course try to get more cheap shares, as they have been a firm long player for many years in this stock.
What specific evidence leads you to conclude there is an HFT fund behind the stock utilizing this strategy to depress the price?
I've also noticed the price-depressing, 100-share transactions that seem to almost always follow any transaction that lifts the price. I suppose this doesn't bother those who are long on XIN and/or would like to buy more shares. In my case, however, I have a maintenance requirement to worry about, so this price manipulation is incredibly annoying/worrisome/stressful.