Gevo, Hibbett Sports Tumble into Tuesday’s 52-Week Low Club
Gevo, Hibbett Sports, Vince Holdings, and Tidewater post new 52-week lows on Tuesday.
[cnxvideo id=”655416″ placement=”ros”]February 14, 2017: Here are four stocks trading with relatively heavy volume among 30 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners about 8 to 7 and on the Nasdaq advancers led decliners by about 5 to 4.
Gevo Inc. (NASDAQ: GEVO) dropped about 33% Tuesday to post a new 52-week low of $1.55 after closing Monday at $2.33. The 52-week high is $27.20. Volume of about 4.8 million was around 7 times the daily average of around 680,000 shares traded. The renewable chemicals and biofuels priced a secondary offering of 5.68 million shares at $1.90 per share, and also 570,000 units of three different warrants.
Hibbett Sports Inc. (NASDAQ: HIBB) dropped 14% Tuesday, to post a new 52-week low of $28.55 after closing at $33.25 on Monday. The stock’s 52-week high is $45.85. Volume was about 8times the daily average of around 430,000 shares. The company’s preliminary report on Monday evening was weak and the outlook aso disappointed analysts.
Vince Holding Corp. (NYSE: VNCE) dropped 22% on Tuesday to record a new 52-week low of $1.95. The stock closed at $2.50 on Monday. Volume was about 4 times the daily average of around 580,000 shares. The luxury apparel and accessories firm has ended its consulting agreement with the company’s founders.
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Tidewater Inc. (NYSE: TDW) dropped about 5.3% Tuesday, to post a new 52-week low of $1.25 after closing at $1.32 on Monday. The stock’s 52-week high is $11.58. Volume was about 20% below the daily average of around 2.5 million shares. The company had no specific news Tuesday,and the stock turned around in the afternoon to a gain of more than 5%.
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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.