FitBit, Gilead Sciences in Thursday’s 52-Week Low Club
December 8, 2016: Here are four stocks trading with relatively heavy volume among 34 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners…
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December 8, 2016: Here are four stocks trading with relatively heavy volume among 34 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by more than 2 to 1.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) dropped 50% on Thursday to post a new 52-week low of $1.10 after closing at $2.20 on Wednesday. The stock’s 52-week high is $8.65. Volume approaching 13 million shares was nearly 15 times the daily average of 850,000. The dry bulk carrier company priced a secondary offering of 10 million shares and warrants at $1.50 per share this morning.
FitBit Inc. (NYSE: FIT) lost about 2.6% Thursday to post a new 52-week low of $7.76 after closing Wednesday at $7.97. The 52-week high is $31.85. Volume of around 9.4 million was less than 10% below the daily average of around 9.9 million shares traded. The stock was downgraded by Deutsche Bank from Buy to Hold and the target price was dropped to $9 per share.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 2.7% on Thursday to post a new 52-week low of $70.83 against a 52-week high of $104.79 and a Wednesday close of $72.78. Volume of around 9 million was less than 10% below the daily average of around 9.6 million. The company has filed a New Drug Application for its hepatitis-C drug.
Novartis AG (NYSE: NVS) dropped about 2.5% on Thursday to post a new 52-week low of $66.93 after closing at $68.62 on Wednesday. The stock’s 52-week high is $88.49. Volume was about 85% above the daily average of around 2.8 million shares. The company had no specific news Thursday.
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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.
