The 52-Week Low Club for Wednesday
March 2, 2016: Here are four stocks trading with heavy volume among 19 equities making new 52-week lows today. Teekay Tankers Ltd. (NYSE: TNK) dropped about 6.4% on Wednesday to post a new 52-week low of $3.67 against a 52-week…
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March 2, 2016: Here are four stocks trading with heavy volume among 19 equities making new 52-week lows today.
Teekay Tankers Ltd. (NYSE: TNK) dropped about 6.4% on Wednesday to post a new 52-week low of $3.67 against a 52-week high of $8.53. The stock closed at $392 on Tuesday night. Volume rose to about 3.7 million shares, about 50% higher than the stock’s daily average volume of around 2.5 million. The oil and refined products tanker company had no specific news today.
Restoration Hardware Holdings Inc. (NYSE: RH) posted a new 52-week low on Wednesday. Shares traded at a low of $36.42, down about 1.8%, after closing at $37.10 on Tuesday. The stock’s 52-week high is $106.49. Volume totaled about 50% above the daily average of around 2 million shares. The home improvement store reported preliminary results last week that disappointed investors, and shares have been selling off ever since.
Harsco Corp. (NYSE: HSC) fell by about 3.3% on Wednesday to post a new 52-week low of $3.55 against a high of $18.00. The stock closed at $3.67 on Tuesday night. Volume rose to about 1.8 million shares, roughly double the daily average of about 950,000 shares traded. The industrial metals company had no specific news today.
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Cleco Corp. (NYSE: CNL) dropped by about 1.8% on Wednesday to post a new 52-week low at $45.05 after closing at $45.88 on Tuesday. The stock’s 52-week high is $54.91. Share volume totaled about double the daily average of around 660,000 shares traded. The Louisiana utility holding company had no specific news today.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.