The 52-Week Low Club for Tuesday
April 26, 2016: Here are four stocks trading with relatively heavy volume among 14 equities making new 52-week lows in Tuesday’s session. NYSE advancing stocks led decliners by about 3 to 1 while Nasdaq advancers led decliners by less than 2 to 1 in the day’s trading.
Sarepta Therapeutics Inc. (NASDAQ: SRPT) dropped about 47% on Tuesday to post a new 52-week low at $7.86 after closing at $14.95 on Monday. The stock’s 52-week high is $41.97. Share volume of was about 15 times the daily average of around 3 million shares traded. An FDA panel has ruled against the company’s treatment for Duchenne muscular dystrophy..
Capital Product Partners LP (NASDAQ: CPLP) posted a new 52-week low on Tuesday. Shares traded at a low of $2.36, down about 38%, after closing at $3.83 on Monday. The stock’s 52-week high is $9.54. Volume totaled more than 9 times the daily average of around 1.1 million shares. The shipping MLP this morning cut its quarterly distribution from $0.2385 per common unit to $0.075.
Perrigo Company plc (NYSE: PRGO) fell by about 0.6% on Tuesday to post a new 52-week low of $98.75 against a high of $200.96. The stock closed at $99.40 on Monday night. Volume totaled more than 7 million shares, more than double its daily average of around 2.4 million. The company’s stock was downgraded this morning at Jefferies.
Applied Optoelectronics Inc. (NASDAQ: AAOI) dropped about 3.9% on Tuesday to post a new 52-week low of $10.65 against a 52-week high of $22.79. The stock closed at $11.08 on Monday night. Volume was nearly double the stock’s daily average volume of around 380,000 shares. The company had no specific news on Tuesday.