Chesapeake Energy Inc. (NYSE: CHK) dropped about 1.7% on Thursday to post a third consecutive new 52-week low at $11.89 after closing at $12.09 on Wednesday. The stock’s 52-week high is $29.92. Share volume totaled around 17 million, about 75% of the daily average of around 22.7 million shares traded. Natural gas prices slipped today by as much as 2.4% to a low of $2.77 per million BTUs, and that sort of commodity move is not good news for Chesapeake.
CONSOL Energy Inc. (NYSE: CNX) dropped about 4.3% on Thursday to post a new 52-week low of $23.84 after closing at $24.91 on Wednesday. The stock’s 52-week high is $47.83. Share volume totaled more than 2.6 million shares, about 25% below the daily average of around 3.3 million. A coal company that has moved into natural gas production over the past year or so that remains better off than it would be if it were still a pure-play coal miner.
Avalanche Biotechnologies Inc. (NASDAQ: AAVL) dropped about 5.3% on Thursday to post a new 52-week low of $16.03 against a 52-week high of $62.48. The stock closed at $16.92 on Wednesday night. Volume totaled more than 2 million shares, about 4-times the daily average of around 570,000 shares. The company reported a disappointing drug trial on Tuesday and has been paying the price ever since.
Ocean Rig UDW Inc. (NASDAQ: ORIG) posted a new 52-week low on Thursday. Shares dropped about 6.8% to a low of $5.58 from Wednesday’s closing price of $5.99. The stock’s 52-week high is $19.97. Volume totaled around 2.2 million shares, nearly double the stock’s the daily average of 1.2 million. The company had no specific news today.
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