August 29, 2014: Among the 24 stocks making new 52-week lows today were the following four firms:
Bob Evans Farms Inc. (NASDAQ: BOBE) dropped about 2.2% on Friday as downgrades on the stock from earlier in the weak continue to send investors away. The new 52-week low is $42.81. Share volume is about 35% below the daily average of around 520,000. The stock’s 52-week high is $60.22.
Fred’s Inc. (NASDAQ: FRED) dropped about 6.5% today to post a new 52-week low of $14.06 compared with the stock’s 52-week high of $21.05. The discount retailer said it plans to close 60 stores that don’t have pharmacies as it tries to raise capital to speed up its pharmacy expansion. Volume is about equal to the daily average of around 200,000 shares traded.
Frontline Ltd. (NYSE: FRO) dropped about 11.6% today to post a new 52-week low of $1.99. Volume is more than double the daily average of around 900,000 shares. The tanker operator reported results on Thursday and today’s tumble marks the second consecutive annual low for the stock. Frontline said yesterday that it may have to restructure. The company’s 52-week high is $5.18.
Web.com Group Inc. (NASDAQ: WWWW) dropped nearly 2.5% today to post a new 52-week low of $18.68. The stock traded about 30% below the average daily volume of around 940,000 and the 52-week high is $37.72. The company posted a new low on August 1st and again yesterday. Ratings cuts and lower price targets spawned the early low, but there has been no big news since. Shares are down nearly 25% for the month of August.
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