Investing
DryShips, Vista Outdoor Drop into Thursday's 52-Week Low Club
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January 11, 2017: Here are four stocks trading with relatively heavy volume among 29 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by about 3 to 2 and on the Nasdaq decliners led advancers by nearly 2 to 1.
DryShips Inc. (NASDAQ: DRYS) dropped about 16% on Thursday to post a new 52-week low of $1.84 against a 52-week high of $278.40 and a Wednesday close of $2.19. Volume of nearly 18 million was about double the daily average of around 8.8 million. Investors continue to run away from the company’s diversification into LPG shipping.
Vista Outdoor Inc. (NYSE: VSTO) dropped nearly 26% on Thursday to post a new 52-week low of $28.03 after closing at $37.79 on Wednesday. Volume was about 15 times the daily average of about 620,000. The ammo and sporting goods maker said late Wednesday that it plans to take an estimated $400 to $450 million non-cash intangible asset impairment charge in its third fiscal 2017 quarter.
Nielsen Holdings plc (NYSE: NLSN) dropped about 1.5% Thursday to post a new 52-week low of $40.97 after closing Wednesday at $41.59. The 52-week high is $55.94. Volume of around 5.2 million was about 70% above the daily average of around 3.2 million shares traded. The company had no specific news Thursday.
Himax Technologies Inc. (NASDAQ: HIMX) dropped about 5% Thursday, posting a new 52-week low of $5.70 after closing at $6.00 on Wednesday. The stock’s 52-week high is $10.95. The chipmaker’s stock was downgraded on Tuesday by Craig Hallum Capital Group from Buy to Hold and the price target was cut from $10 to $7 a share.
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