Pandora, Hertz Plunge into Tuesday's 52-Week Low Club
May 9, 2017: Here are four stocks trading with relatively heavy volume among 83 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by about 4 to 3 and on the Nasdaq was split evenly between advancing and declining equities.
Pandora Media Inc. (NYSE: P) dropped about 9.5% Tuesday to post a new 52-week low of $9.41 after closing Monday at $10.40. The 52-week high is $14.98. Volume of around 46 million shares was about 6 times the daily average of around 7.8 million. The company posted poor results but bounced back after saying a sale of the company could be completed soon.
Hertz Global Holdings Inc. (NYSE: HTZ) posted a new 52-week low of $11.78 on Tuesday, down about 21% compared with Monday’s closing price of $14.91. The stock’s 52-week high is $53.14. The range is based on a 1-for-15 reverse split effective last July. Volume totaled around nearly 28 million shares, more than 8 times the daily average of 3.4 million. The company reported dreadful earnings this morning.
Horizon Pharma PLC (NASDAQ: HZNP) dropped about 3.2% Tuesday to post a new 52-week low of $9.80 after closing at $10.12 on Monday. The stock’s 52-week high is $23.44. Volume of nearly 12 million was about 4 times the daily average of around 3.3 million shares traded. On Monday the company missed on first-quarter profits and revenues and then lowered guidance.
Chicago Bridge & Iron Co. NV (NYSE: CBI) dropped nearly 14% Tuesday to post a new 52-week low of $25.03 after closing at $29.06 on Monday. The stock’s 52-week high is $39.71. Volume was more than 6 times the daily average of around 1.6 million shares. The company missed analysts’ expectations when it reported results last night.