The 52-Week Low Club for Friday
May 27, 2016: Here are four stocks trading with relatively heavy volume among 17 equities making new 52-week lows in Friday’s session. NYSE advancers led decliners by about 2 to 1 while Nasdaq advancers led decliners by about the same…
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May 27, 2016: Here are four stocks trading with relatively heavy volume among 17 equities making new 52-week lows in Friday’s session. NYSE advancers led decliners by about 2 to 1 while Nasdaq advancers led decliners by about the same margin.
Ionis Pharmaceuticals Inc. (NASDAQ: IONS)) posted a new 52-week low on Friday. Shares traded at a low of $19.59, down about 8.3%, after closing at $21.36 on Thursday. The stock’s 52-week high is $71.50. Volume was about 4 times the daily average of around 1.7 million shares. The drugmaker’s big partner, GlaxoSmithKline, decided Thursday not to begin a late-stage trial of a treatment for transthyretin amyloid cardiomyopathy, Ionis’s prime drug candidate.
HollyFrontier Corp. (NYSE: HFC) dropped about 3% on Friday to post a new 52-week low of $25.80 against a 52-week high of $54.73. The stock closed at $26.61 on Thursday night. Volume was about 30% below the stock’s daily average volume of around 2.7 million shares. The oil refiner had no specific news Friday.
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Embraer SA (NYSE: ERJ) dropped by about 2% on Friday to post a new 52-week low at $20.90 after closing at $21.32 on Thursday. The stock’s 52-week high is $32.50. Daily volume totaled about 25% above the average of around 1.3 million shares. The Brazilian aircraft maker had no specific news Friday.
Alon USA Energy Inc. (NYSE: ALJ) fell by about 2% on Friday to post a new 52-week low of $7.25 against a high of $23.29. The stock closed at $7.39 on Thursday night. Volume was nearly equal to the stock’s daily average of around 1 million. The oil refining company had no specific news either on Friday.
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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.