Biostage, Fossil Group Tumble into Friday’s 52-Week Low Club
Biostage, Fossil Group, Galena Biopharma, and Himax posted new 52-week lows on Friday.
[cnxvideo id=”509736″ placement=”ros”]February 10, 2017: Here are four stocks trading with relatively heavy volume among 27 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners more than 2 to 1 and on the Nasdaq advancers led decliners by about 9 to 5.
Biostage Inc. (NASDAQ: BSTG) dropped more than 40% Friday to post a new 52-week low of $0.29 after closing Thursday at $0.51. The 52-week high is $2.86. Volume of nearly 10 million was about 100 times the daily average of around 150,000 shares traded. The company priced a secondary stock offering this morning at $0.40 to raise $8 million.
Galena Biopharma Inc. (NASDAQ: GALE) dropped more than 12% Friday, to post a new 52-week low of $0.72 after closing at $0.82 on Thursday. The stock’s 52-week high is $4.75. Volume was about 50% higher than the daily average of around 2.1 million shares. The company priced a secondary offering of shares and warrants a $1.00 per unit on Thursday.
Fossil Group Inc. (NASDAQ: FOSL) dropped about 3.6% Friday, to post a new 52-week low of $22.47 after closing at $23.31 on Thursday. The stock’s 52-week high is $51.93. Volume was more than double the daily average of around 1.2 million shares. Mizuho Securities cut the stock to Underform this morning.
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Himax Technologies Inc. (NASDAQ: HIMX) dropped about 1.4% on Friday to record a new 52-week low of $4.88. The stock closed at $4.95 on Thursday. Volume was about 33% below the daily average of around 3.7 million shares. 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.
