Frontier Communications, Rubicon Project Plunge into Wednesday’s 52-Week Low Club
March 15, 2017 by Paul AusickMarch 15, 2017: Here are four stocks trading with relatively heavy volume among 56 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by more than 8 to 1 and on the Nasdaq advancers also decliners by nearly 3 to 1.
Frontier Communications Inc. (NASDAQ: FTR) posted a new 52-week low of $2.31 on Wednesday, down about 4.1% compared with Tuesday’s closing price of $2.41. The stock’s 52-week high is $5.75. Volume was more than double the daily average of around 28 million shares. The company had no specific news today, but the dividend yield rose nearly another full point to 16.6% on Wednesday.
NeoPhotonics Corp. (NYSE: NPTN) dropped more than 14% Wednesday, to post a new 52-week low of $6.90 after closing at $8.08 on Tuesday. The stock’s 52-week high is $18.51. Volume was nearly 15 times the daily average of around 14 million shares. The fiber optic company posted good results and a poor outlook late Tuesday. Shares recovered quickly, however, and the stock is on its way to a daily gain of about 15%.
Endo International Inc. (NASDAQ: ENDP) dropped about 3.9% Wednesday, to post a new 52-week low of $9.82 after closing at $10.22 on Tuesday. The stock’s 52-week high is $36.95. Volume was more about 10% above the daily average of around 8.7 million shares. The company’s opioid drug’s risks outweigh the drug’s benefits. However, shares have recovered and are headed for a one-day gain of around 3%.
Rubicon Project Inc. (NYSE: RUBI) dropped about 29% Wednesday to post a new 52-week low of $5.96 after closing Tuesday at $8.39. Volume of more than 6.1 million shares was more than 10 times the daily average of less than 600,000. The company named a new CEO and reported weak results after markets closed Tuesday.
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