November 15, 2016: Here are four stocks trading with relatively heavy volume among 40 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by nearly 3 to 1 and on the Nasdaq advancers led decliners by about 3 to 2.
Nokia Corp. (NYSE: NOK) dropped about 6.3% on Tuesday to post a new 52-week low of $4.04 against a 52-week high of $7.55. Volume of about 31 million was nearly 3 times the daily average of around 11.7 million. The network equipment company suffered from missed estimates and a weak forecast.
Teva Pharmaceuticals Industries Ltd. (NYSE: TEVA) lost about 8% Tuesday to post a new 52-week low of $37.75 after closing Monday at $41.03. The 52-week high is $66.55. Volume of around 20 million was more than double the daily average of around 8 million shares traded. The company’s third-quarter results were not enough to satisfy investors.
Synthetic Biologics Inc. (NYSEMKT: SYN) dropped about 41% on Tuesday to post a new 52-week low of $0.85 after closing at $1.43 on Monday. The stock’s 52-week high is $3.09. Volume of about 11 million was more than 30 times the daily average of around 350,000 shares. The company priced a secondary offering of 25 million shares and warrants at $1.00 per unit.
Rex Energy Corp. (NASDAQ: REXX) dropped about 37% on Tuesday to post a new 52-week low of $0.23 after closing at $0.35 on Monday. The stock’s 52-week high is $2.43. Volume was about 5 times the daily average of around 1.3 million shares. The independent oil and gas driller said yesterday that talks with a senior noteholder had failed and that its remaining options for remaining in business are limited.