Sprint, American Outdoor Brands Sink into Friday's 52-Week Low Club

Investing

Published: December 8, 2017 4:04 pm

Last Updated: January 12, 2020 5:37 am

December 8, 2017: Here are four stocks trading with heavy volume among 73 equities making new 52-week lows in Friday’s session. On the NYSE advancers led decliners by about 3 to 2 and on the Nasdaq, advancers led decliners by about 8 to 7.

Sprint Corp. (NYSE: S) posted a new 52-week low of $5.42 Friday, down 0.7% after closing at $5.46 on Thursday. The 52-week high is $9.65. Volume was about 14.5 million, nearly 15% below the daily average of around 16.9 million shares. The company is expected to raise prices as competition cools. Investors aren’t sure they agree.

American Outdoor Brands Corp. (NASDAQ: AOBC) dropped about 16.5% Friday to post a new 52-week low of $12.46 after closing at $14.93 on Thursday. The 52-week high is $24.49. Volume was around 11.5 million, nearly 6 times the daily average of about 1.7 million. The maker of Smith & Wesson firearms beat quarterly estimates but cut its full-year forecasts sharply.

Veeco Instruments Inc. (NASDAQ: VECO) dropped nearly 26% Friday to post a new 52-week low of $10.85 after closing at $14.65 on Thursday. The 52-week high is $34.38. Volume was around 5.8 million, about 10 times the daily average of around 584,000. The company reported late yesterday that it had received an unfavorable patent ruling in China.

Range Resources Corp. (NYSE: RRC) dropped about 0.3% Friday to post a new 52-week low of $15.91 after closing at $15.95 on Thursday. The stock’s 52-week high is $39.64. Volume of around 5 million was about a third below the daily average. The forecast for natural gas demand is low and the front month contract is at its lowest point of the year. Shares have reversed their direction and are on track to post a daily gain of about 0.8%.

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