Anthera, Endologix Fall into Wednesday’s 52-Week Low Club
December 28, 2016: Here are four stocks trading with relatively heavy volume among 59 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by nearly 3 to 1 and on the Nasdaq decliners led advancers…
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December 28, 2016: Here are four stocks trading with relatively heavy volume among 59 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by nearly 3 to 1 and on the Nasdaq decliners led advancers by about the same margin. Total volume reached about three-quarters of the daily average.
Anthera Pharmaceuticals Inc. (NASDAQ: ANTH) dropped about 67% on Wednesday to post a new 52-week low of $0.67 after closing at $2.01 on Tuesday. The stock’s 52-week high is $32.83. Volume of more than 15 million shares was about 15 times the daily average of about 1 million. The drug maker did not meet its expected targets in a phase III study.
Endologix Inc. (NASDAQ: ELGX) dropped about 9.3% on Wednesday to post a new 52-week low of $4.78 against a 52-week high of $14.50 and a Tuesday close of $5.27. Volume of about 6 million was more than 3 times the daily average of around 1.7 million. The company on Tuesday announced a temporary shipping hold on its best-selling heart device, saying there was a manufacturing issue.
Hanesbrands Inc. (NYSE: HBI) dropped about 1.2% on Wednesday to post a new 52-week low of $21.44 after closing at $21.70 on Tuesday. The stock’s 52-week high is $31.36. Volume was about half the daily average of around 2.6 million shares. The company had no specific news Wednesday.
Kimco Realty Corp. (NYSE: KIM) dropped about 1.7% Wednesday to post a new 52-week low of $24.63 after closing Tuesday at $25.04. The 52-week high is $32.24. Volume of around 2.4 million was about 40% below the daily average of around 3.9 million shares traded. The company had no specific news.
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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.