Cenovus  Energy, DryShips Dip into Wednesday’s 52-Week Low Club

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April 12, 2017: Here are four stocks trading with relatively heavy volume among 51 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by about 2 to 1 and on the Nasdaq decliners led advancers by about the same margin.

DryShips Inc. (NASDAQ: DRYS) dropped about 6.9% Wednesday to post a new reverse split-adjusted 52-week low of $1.62 after opening at $1.74 this morning. Volume was about 30% below the daily average of around 33 million pre-split shares. Shares had recovered nearly 10% to trade around $1.90 shortly before the closing bell.

Cenovus Energy Inc. (NYSE: CVE) dropped about 3.3% Wednesday to post a new 52-week low of $10.67 after closing Tuesday at $11.03. The stock’s 52-week high is $16.82. Volume of about 5.2 million shares was about 35% higher than the daily average of around 3.3 million. The company had no specific news Wednesday.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) posted a new 52-week low of $31.90 on Wednesday, down about 0.7% compared with Tuesday’s closing price of $32.14. The stock’s 52-week high is $58.16. Volume was about 65% below the daily average of around 9.7 million shares. The company had no specific news.

OncoMed Pharmaceuticals Inc. (NASDAQ: OMED) dropped about 5.3% Wednesday to post a new 52-week low of $4.69 after closing at $4.95 on Tuesday. The stock’s 52-week high is $15.49. Volume was more than double the daily average of around 270,000 shares. The company had no specific news Wednesday.