March 4, 2016: Here are four stocks trading with heavy volume among 17 equities making new 52-week lows today.
H&R Block Inc. (NYSE: HRB) posted a new 52-week low on Friday. Shares traded at a low of $26.93, down more than 18%, after closing at $32.90 on Thursday. The stock’s 52-week high is $37.53. Volume totaled about 50% more than the daily average of around 3 million shares. The tax preparation firm’s stock was downgraded this morning after the company posted a quarterly loss.
Symantec Corp. (NASDAQ: SYMC) fell by about 21% on Friday to post a new 52-week low of $16.14 against a high of $26.16. The stock closed at $20.52 on Thursday night. Volume rose to about 15.2 million shares, almost double the daily average of about 7.7 million shares traded. The sell-off could be the result of investors bailing out after the company’s $4 per share special dividend was paid.
The Manitowoc Company Inc. (NYSE: MTW) dropped about 11% on Friday to post a new 52-week low of $4.04 against a 52-week high of $8.53. The stock closed at $3.72 on Thursday night. Volume rose to about 2 million shares, about 20% below the stock’s daily average volume of around 2.5 million. The company completed a spin-off of its foodservice business today.
Vitae Pharmaceuticals Inc. (NASDAQ: VTAE) dropped by about 57% on Friday to post a new 52-week low at $4.15 after closing at $9.80 on Thursday. The stock’s 52-week high is $18.71. Share volume totaled about 7.3 million, more than 40 times the daily average of around 170,000 shares traded. The drugmaker reported a net loss and unexpectedly lower revenues last night. Analysts at Stifel downgraded the stock from Buy to Hold this morning.
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