Coty, e.l.f Beauty Sink into Thursday's 52-Week Low Club
August 9, 2018: Here are four stocks trading with heavy volume among 96 equities making new 52-week lows in Thursday’s session. On the NYSE decliners and advancers traded even and on the Nasdaq, advancers led decliners by about 1.05 to 1.
Ultra Petroleum Corp. (NASDAQ: UPL) traded down about 36% Thursday to post a new 52-week low of $1.08 after closing Wednesday at $1.69. The stock’s 52-week high is $10.18. Volume was more than triple the daily average of about 4.3 million shares. The company missed both top and bottom line estimates this morning.
Coty Inc. (NYSE: COTY) traded down about 10% Thursday to set a new 52-week low of $12.03. Shares closed at $13.38 on Wednesday, and the 52-week high is $21.68. Volume was about 35% above the daily average of around 5.8 million. The company had no specific news.
e.l.f Beauty Inc. (NYSE: ELF) traded down 49% Thursday and posted a new 52-week low of $10.00 after closing Wednesday at $14.91. The stock’s 52-week high is $26.00. Volume totaled around 7 million, about 14 times the daily average. The company reported weak earnings last night and also cut guidance. Not too sweet-smelling.
Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) dropped about 8.9% Thursday to set a new 52-week low of $12.77. Shares closed at $14.02 on Wednesday and the stock’s 52-week high is $41.20. Volume was more than three times the daily average of around 2.8 million. The company reported Q2 results last night and noted a decline in sales of its treatment for Parkinson’s disease.