Teva, Coty Dropped into Thursday's 52-Week Low Club
August 24, 2017: Here are four stocks trading with heavy volume among 94 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 15 to 14 and on the Nasdaq advancers led decliners by nearly 3 to 2.
Teva Pharmaceuticals Industries Inc. (NYSE: TEVA) posted a new 52-week low of $15.85 on Thursday, down about 3.9% from Wednesday’s closing price of $16.49. The stock’s 52-week high is $52.66. Volume totaled around 20 million shares, about 33% above the daily average of around 15 million. The company had no specific news.
Coty Inc. (NYSE: COTY) dropped about 5.4% Thursday to post a new 52-week low of $15.84 after closing at $16.74 on Wednesday. The stock’s 52-week high is $28.86. Volume of around 13 million was more than double the daily average of about 5.2 million. The company had no specific news.
Immune Pharmaceuticals Inc. (NASDAQ: IMNP) dropped about 48% Thursday to post a new 52-week low of $1.15 after closing Wednesday at $2.20. The 52-week high is $8.16. Volume of around 12 million shares traded was about 6 times the daily average of around 220,000. The company filed with the SEC to issue new debentures in an unspecified amount.
Hormel Foods Corp. (NYSE: HRL) dropped about 9% Thursday to register a new 52-week low of $30.86 after closing at $33.92 on Wednesday. The 52-week high is $38.84. Volume was around 12 million, about 3 times the daily average. The company missed profit forecasts when it reported results this morning. The company also made announced another acquisition — Hormel has spent more than $500 million on new acquisitions in less than a week.