Impax Labs, Red Robin Burgers in Tuesday’s 52-Week Low Club
August 9, 2016: Here are three stocks trading with relatively heavy volume among 20 equities making new 52-week lows in Tuesday’s session. NYSE advancers led decliners by about 5 to 4 and Nasdaq advancers led decliners by the same margin.…
August 9, 2016: Here are three stocks trading with relatively heavy volume among 20 equities making new 52-week lows in Tuesday’s session. NYSE advancers led decliners by about 5 to 4 and Nasdaq advancers led decliners by the same margin.
Impax Laboratories Inc. (NASDAQ: IPXL) dropped about 28% on Tuesday to post a new 52-week low of $22.08 after closing at $30.59 on Monday. The stock’s 52-week high is $47.48. Volume reached nearly 10 times the daily average of around 640,000 shares. The specialty pharmaceuticals maker plunged on a weak earnings report and downbeat outlook.
Navigator Holdings Ltd. (NYSE: NVGS) lost about 15% Tuesday to post a new 52-week low of $8.15 after closing Monday at $9.58. The 52-week high is $17.67. Volume was about double the daily average of around 340,000 shares. Navigator also fluffed its Q2 earnings estimates.
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Red Robin Gourmet Burgers Inc. (NASDAQ: RRGB) dropped about 7.2% on Tuesday to post a new 52-week low of $45.00 against a 52-week high of $84.57. Volume of around 1.2 million was about 4 times the daily average of around 340,000. The stock closed at $48.50 on Monday night. The company’s CEO retired after the burger joint missed street forecasts for earnings last night..
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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.