Noble Corp., Express Stay in 52-Week Low Club Again Friday
August 26, 2016 by Paul AusickAugust 26, 2016: Here are four stocks trading with relatively heavy volume among 23 equities making new 52-week lows in Friday’s session. NYSE decliners led advancers by nearly 2 to 1 and Nasdaq decliners led advancers by just 3 percentage points.
Noble Corp. plc (NYSE: NE) lost about 3% Friday to post a new 52-week low of $5.76 after closing Thursday at $5.94. The 52-week high is $14.64. Volume of around 6.2 million was about 25% below the daily average of around 8.7 million. The company had no specific news Friday.
Express Inc. (NYSE: EXPR) dropped about 1.8% on Friday to post a new 52-week low of $11.52 after closing at $11.73 on Thursday. The stock’s 52-week high is $21.57. Volume was roughly equal to the daily average of around 2.4 million shares. The specialty retailer’s stock skidded following a disappointing earnings report Wednesday, and the bleeding has slowed but not entirely stopped.
DHT Holdings Inc. (NYSE: DHT) dropped about 2.2% on Friday to post a new 52-week low of $4.41 against a 52-week high of $8.48. Volume of around 2.3 million was nearly a third lower than the daily average of around 2.6 million. The stock closed at $4.51 on Thursday night. Morgan Stanley downgraded the stock from Overweight to Equal Weight Thursday morning.
Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) dropped about 3.1% on Friday to post a new 52-week low of $4.62 against a 52-week high of $11.00. Volume of around 1.7 million was about 10% below the daily average of around 1.9 million. The stock closed at $4.77 on Thursday night. The company had no specific news again Friday.
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