Altria, PetMed Plunge Into Tuesday’s 52-Week Low Club

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January 22, 2019: Here are four stocks trading with heavy volume among 34 equities that have posted new 52-week lows by the noon hour Tuesday. On the New York Stock Exchange, decliners led advancers by about 3.97 to one and decliners led advancers on the Nasdaq by about 2.65 to one.

The three major indexes were trading more than 1% lower following a downwardly revised estimate of global growth and rising concerns on trade. Crude oil traded down about 3% on the day at $52.18 a barrel. Gold was down about 0.2% at $1,282.30 for the day.

Altria Group Inc. (NYSE: MO) traded down about 7.2% to post a new 52-week low of $44.82 Tuesday, after closing at $48.31 on Friday. The stock’s 52-week high is $71.86. Volume was about 10% above the daily average of around 11.1 million. Morgan Stanley dropped its rating from Equalweight to Underweight and cut the price target from $54 to $45.

PetMed Express Inc. (NASDAQ: PETS) dropped 13.6% Tuesday to set a new 52-week low of $20.25. Shares closed at $23.44 on Friday, and the stock’s 52-week high is $51.60. Volume was more than three times the daily average of about 700,000. The company posted weaker-than-expected earnings this morning.

PPDAI Group Inc. (NYSE: PPDF) traded down about 26.6% to post a new 52-week low of $2.85 Tuesday, after closing at $3.68 on Friday. The stock’s 52-week high is $8.68, and volume was nearly three times the daily average of around 790,000. The China-based online consumer finance company had no specific news.

Signet Jewelers Ltd. (NYSE: SIG) traded down about 6.3% Tuesday and posted a new 52-week low of $23.80, after closing Friday at $25.41. The stock’s 52-week high is $71.07. Volume was roughly equal to the daily average of around 1.8 million. The jewelry retailer cut its fourth-quarter guidance last week and investors haven’t forgotten that yet.