Global Eagle, Rentech Plunge into Tuesday’s 52-Week Low Club

February 21, 2017 by Paul Ausick

February 21, 2017: Here are four stocks trading with relatively heavy volume among 34 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by more than 2 to 1 and on the Nasdaq advancers led decliners by about 4 to 3.

Sabre Corp. (NASDAQ: SABR) dropped about 1.8% Tuesday to post a new 52-week low of $20.89 after closing Friday at $21.30. The 52-week high is $29.76. Volume of about 7.6 million was more than double the daily average of 3 million. The company had no specific news.

Gulfport Energy Corp. (NASDAQ: GPOR) dropped about 32% on Tuesday to record a new 52-week low of $4.22. The stock closed at $6.22 on Friday. Volume was about 25% below the daily average of around 3.9 million shares. The company had no specific news Tuesday.

Global Eagle Entertainment Inc. (NASDAQ: ENT) dropped about 1.4% Tuesday, to post a new 52-week low of $14.29 after closing at $14.49 on Friday. The stock’s 52-week high is $19.92. Volume was about 7 times the daily average of around 420,000 shares. The company’s CEO and CFO both resigned unexpectedly this morning.

Rentech Inc. (NASDAQ: RTK) dropped more than 37% Tuesday, to post a new 52-week low of $1.42 after closing at $2.75 on Friday. The stock’s 52-week high is $4.15. Volume was nearly 10 times the daily average of around 280,000 shares. The wood products company said this morning that it was shutting down is Wawa facility to avoid unbudgeted capital spending. The company has also initiated a strategic review.

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