Tile Shop, Ritter Pharmaceuticals Plunge into Tuesday's 52-Week Low Club
October 3, 2017: Here are four stocks trading with heavy volume among 29 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by more than 8 to 7 and on the Nasdaq advancers led decliners by about 4 to 3.
Tile Shop Holdings Inc. (NASDAQ: TTS) dropped more than 37% Tuesday to establish a new 52-week low of $8.30 after closing at $13.20 on Monday. The 52-week high is $22.40. Volume of around 13.6 million shares traded was about 20 times the daily average. The company warned last night that third quarter sales would be below estimates.
Ritter Pharmaceuticals Inc. (NASDAQ: RTTR) posted a new 52-week low of $0.34 on Tuesday, down about 5.6% from Monday’s closing price of $0.36. The stock’s 52-week high is $3.75. Volume totaled around 9.6 million shares, about 25 times the daily average. The company today announced that it had closed an underwritten offering of 34.55 million units at $0.40 per unit.
HCP Inc. (NYSE: HCP) dropped about 0.9% Tuesday to post a new 52-week low of $26.47 after closing at $26.71 on Monday. The 52-week high is $34.44. Volume was around 3.6 million, right around the daily average. The healthcare REIT’s stock was downgraded from Neutral to Sell on Monday at UBS and the price target was lowered from $30 to $25 per share.
SCANA Corp. (NYSE: SCG) also dropped about 0.9% Tuesday to post a new 52-week low of $47.96 after closing at $48.58 on Monday. The stock’s 52-week high is $74.99. Volume of around 1.6 million was about 10% below the daily average. The company had no specific news.