Nordic American Tankers, Top Ships Sink into Wednesday’s 52-Week Low Club

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December 13, 2017: Here are four stocks trading with heavy volume among 73 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by about 8 to 7 and on the Nasdaq, advancers led decliners by slightly around 3 to 2.

Nordic American Tankers Ltd. (NYSE: NAT) posted a new 52-week low of $2.68 Wednesday, down about 27% after closing at $3.67 on Tuesday. The 52-week high is $9.32. Volume was about 20.3 million, more than 20 times the daily average of around 940,000 shares. The company announced priced a sale of $110 million in new shares at $2.75 per share.

Top Ships Inc. (NASDAQ: TOPS) dropped about 14% Wednesday to post a new 52-week low of $0.31 after closing at $0.36 on Tuesday. Volume was around 14.5 million, about 25% above the daily average of around 6.4 million. The shipping company had no specific news.

Asanko Gold Inc. (NYSEAMERICAN: AKG) dropped nearly 11% Wednesday to post a new 52-week low of $0.44 after closing at $0.48 on Tuesday. The stock’s 52-week high is $3.90. Volume of around 3.5 million was about 35 times the daily average. The junior gold miner had no specific news.

Iconix Brand Group Inc. (NASDAQ: ICON) dropped about 1.4% Wednesday to post a new 52-week low of $1.36 after closing at $1.38 on Tuesday. The 52-week high is $10.80. Volume was around 3.2 million, about 30% above the daily average of around 2.3 million. The company had no specific news.