Investing

The 52-Week Low Club for Thursday

May 26, 2016: Here are four stocks trading with heavy volume among 21 equities making new 52-week lows in Thursday’s session. NYSE advancers led decliners by about 5 to 4 while Nasdaq decliners led advancers by less than 5 to 4.

Ionis Pharmaceuticals Inc. (NASDAQ: IONS)) posted a new 52-week low on Thursday. Shares traded at a low of $21.09, down more than 40%, after closing at $35.26 on Wednesday. The stock’s 52-week high is $71.50. Volume was more than 20 times the daily average of around 1.7 million shares. The drugmaker’s big partner, GlaxoSmithKline, decided not to begin a late-stage trial of a treatment for transthyretin amyloid cardiomyopathy.

Tidewater Inc. (NYSE: TDW) dropped about 38% on Thursday to post a new 52-week low of $3.79 against a 52-week high of $25.59. The stock closed at $6.11 on Wednesday night. Volume was more than 6 times the stock’s daily average volume of around 1.9 million shares. The supplier of offshore service vessels to the energy industry posted a loss this morning and, worse, said it may not be in compliance with certain loan covenants.

Pure Storage Inc. (NYSE: PSTG) dropped by about 25% on Thursday to post a new 52-week low at $11.05 after closing at $14.72 on Wednesday. The stock’s 52-week high is $20.60. Daily volume totaled nearly 10 times the average of about 1.3 million shares. The high tech company beat estimates, but not by enough to satisfy investors apparently.

Bristow Group Inc. (NYSE: BRS) fell by about 30% on Thursday to post a new 52-week low of $10.81 against a high of $60.84. The stock closed at $15.48 on Wednesday night. Volume was nearly 9 times the stock’s daily average of around 700,000. The company, which provides helicopter services to the offshore energy industry, reported weak earnings this morning and said it may cut future helicopter purchases.

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