Hain Celestial, DryShips Drop into Thursday's 52-Week Low Club
June 22, 2017: Here are four stocks trading with heavy volume among 106 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by nearly 3 to 2 and on the Nasdaq, advancers led decliners by about the same ratio.
The Hain Celestial Group Inc. (NASDAQ: HAIN) posted a new 52-week low of $31.70 on Thursday, down about 4.4% compared with Wednesday’s closing price of $33.16. The stock’s 52-week high is $56.99. Volume totaled more than 12.5 million shares, about 10 times the daily average of around 1.2 million. The organic food company said this morning that an accounting review has shown that the company does not need to change its accounting practices. Shares turned positive later in the day and are on track to close up about 1%.
DDR Corp. (NYSE: DDR) dropped about 3.2% Thursday to post a new 52-week low of $8.11 after closing at $8.38 on Wednesday. The stock’s 52-week high is $19.92. Volume of nearly 12 million was about 40% higher than the daily average. The company had no specific news.
DryShips Inc. (NASDAQ: DRYS) dropped more than 45% Thursday to post a 52-week low of $2.87 after closing at a split-adjusted $4.25 on Wednesday. Volume was around 9.5 million, about 10% higher than the daily average of around 8.5 million shares. The company’s seventh reverse stock split since March 2016 — this one a 1-for-5 split — became effective this morning.
Marathon Oil Corp. (NYSE: MRO) dropped about 1% Thursday to post a new 52-week low of $11.50 after closing Wednesday at $11.61. The 52-week high is $19.28. Volume was about 30% lower than the daily average of about 13.7 million shares. The company had no specific news.