The 52-Week Low Club for Tuesday
November 24, 2015: Here are four stocks trading with heavy volume among 101 equities making new 52-week lows today.
Brocade Communications Systems Inc. (NASDAQ: BRCD) posted a new low on Tuesday. Shares dropped about 9.4% to a low of $9.16 from Monday’s closing price of $10.09. The stock’s 52-week high is $12.96. Volume was about 6 times the daily average of about 4.4 million shares. The company missed Q3 estimates and its outlook was weak for the current quarter.
United States Steel Corp. (NYSE: X) dropped more than 6% on Tuesday to post a new 52-week low of $7.50 against a high of $36.32. The stock closed at $8.00 on Monday night. Volume reached more than double the daily average of around 11 million shares traded. An analysts’ report today noted several headwinds facing the company in 2016.
TerraForm Power Inc. (NASDAQ: TERP) dropped about 5.7% on Tuesday to post a new 52-week low of $7.89 against a 52-week high of $42.66. The stock closed at $8.37 on Monday night. Volume was nearly 3 times the daily average of around 3.2 million shares traded. The company’s rating was dropped by Moody’s today and the agency’s outlook was changed to negative.
Cabot Oil & Gas Corp. (NYSE: COG) dropped by about 2.4% on Tuesday to post a new 52-week low at $18.91 after closing at $19.38 on Monday. The stock’s 52-week high is $35.64. Share volume was about 30% above the daily average of around 6.6 million. The oil and gas producer had no specific news today.