The 52-Week Low Club for Monday
May 2, 2016: Here are four stocks trading with relatively heavy volume among 24 equities making new 52-week lows in Monday’s session. NYSE advancers led decliners by about 2 to 1 while Nasdaq advancers led decliners by about 3 to 2.
Seagate Technology PLC (NASDAQ: STX) dropped by about 7.2% on Monday to post a new 52-week low at $20.21 after closing at $21.77 on Friday. The stock’s 52-week high is $60.09. Share volume of was more than double the daily average of around 6.8 million shares traded. The hard drive maker received a Sell rating from J.P. Morgan this morning.
Molina Healthcare Inc. (NYSE: MOH) posted a new 52-week low on Monday. Shares traded at a low of $48.00, down about 7.3%, after closing at $51.76 on Friday. The stock’s 52-week high is $82.37. Volume totaled nearly 5 times the daily average of around 950,000 shares. The health insurer missed estimates on Friday and took a price target cut on Monday morning.
ImmunoGen Inc. (NASDAQ: IMGN) dropped about 8.5% on Monday to post a new 52-week low of $6.27 against a 52-week high of $19.43. The stock closed at $6.85 on Friday night. Volume was more than double the stock’s daily average volume of around 1 million shares. The biotech firm reported an earnings miss on Friday and the stock was downgraded Monday at RC Capital Markets.
Perrigo Company plc (NYSE: PRGO) fell by 1.9% on Monday to post a new 52-week low of $94.83 against a high of $200.96. The stock closed at $96.67 on Friday night. Volume totaled about 3 million shares, about 20% above the stock’s daily average. The company said on Monday that it’s generic version of a Valeant drug had been approved by the U.S. FDA.