Aeterna Zentaris Regains Compliance and 2 Stocks that Have Hit 52-Week Lows
Aeterna Zentaris (NASDAQ:AEZS): Aeterna Zentaris announced that NASDAQ notified them that they had regained compliance with Rule 5450A(1), which requires a minimum bid price of $1.00 for continued listing on the NASDAQ Global Market. Their shares closed at $2.26, down $0.02 or 0.88% on the day. They have traded in a 52-week range of $2.27 to $13.02.
Nordic American Tankers (NYSE:NAT): Nordic American Tankers announced that they have agreed with the banks to establish a credit facility that will continue until the Autumn of 2017. The new non amortizing facility will total $430 million and final documentation is expected to be completed shortly. The banking group consists of the leading Scandinavian banks DNB, Nordea and Skandinaviska Enskilda Banken. Today, NAT drew $250 million of the current credit facility and have about $80 million in cash. Ifevents and opportunities warrant it, the facility may be supplemented by other loan arrangements. The Chairman and Chief Executive Officer of NAT, Herbjrn Hansson, made the following statement, “I am pleased that this agreement has been entered into. This tells us that NAT is a preferred borrower. It gives NAT a continued solid financial footing and flexibility which will enable the company to grow, based upon both possible vessel acquisitions and new buildings”. Their shares closed at $8.63, down $0.32 or 3.58% on the day. They have traded in a 52-week range of $8.90 to $16.04.
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Power Integrations (NASDAQ:POWI): Power Integrations announced that their financial results for the quarter ending September 30 will include a pre-tax charge of approximately $60 million, resulting in a net loss on a GAAP basis. The charge stems from the expected closure of SemiSouth Laboratories, a Mississippi-based developer of silicon-carbide power devices. Power Integrations had announced a strategic partnership with SemiSouth in 2010. Their shares closed at $27.39, down $0.16 or 0.58% on the day. They have traded in a 52-week range of $27.28 to $44.62.
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