Perhaps as a result of the rising S&P/ASX 200 (INDEXASX: ^AXJO) (ASX: XJO) in recent days, the number of companies hitting 52-week lows has been quite subdued.

This can make bargains harder to find for investors, as companies that fall while the index rises are usually being dropped for a reason. Nevertheless, there are three interesting companies this week that could be worth a closer look by investors:

Sky Network Television Ltd (ASX: SKT) – last traded at $4.01, down 26% for the year

Sky Network shares first started heading south after the preliminary final report was released in August last year. Today’s prices are the end of a prolonged fall since then, and the company’s most recent full-year results were mixed with revenue rising 2.4% while profit fell 5.8%. Most interestingly, the company noted the detail provided in its past annual report had hurt negotiations with content suppliers. Additionally, Sky announced it was transitioning to a different client model, with higher churn and lower Average Revenue Per User (ARPU), while the company benefits from lower capital outlay, lower content cost, and lighter customer service demands.

Although much of this sounds negative, Sky looks to have much of the potential impact already priced into it, and I don’t expect shares to fall much further from here – barring any bad news.

Cover-More Group Ltd (ASX: CVO) – last traded at $1.42, down 28% for the year

Cover-More has been sold off savagely in the wake of its half-yearly results three weeks ago and after the falls it could be an interesting opportunity. The stock looks conventionally expensive, apparently trading on a Price to Earnings (P/E) ratio of around 28 times estimated full-year profit. Analysts are expecting a slightly stronger second half, although the real value of Cover-More is in its international operations, which are growing rapidly. Asia in particular is a key growth market for the company over the long term, and growing numbers of Asian tourists provide a rich source of revenue.

I believe Cover-More has fallen roughly as far as it will go, in the absence of further bad news.

APA Group (ASX: APA) – last traded at $8.26, down 12% for the year

Shares in APA Group have been bumpy throughout the past year, although it was the recent announcement of the cash takeover offer for the Ethane Pipeline Income Fund (ASX: EPX) that pushed APA shares as low as $8 earlier this week. Also weighing on the price were media statements that APA was benefiting from ineffective competition and inadequate regulation which allowed the company to exercise too much market power – although ACCC Chairman Rod Sims was careful to point out APA is not doing anything wrong.

That sounds like a great deal for shareholders, if not so much for APA’s customers. With a 4.8% dividend, an acquisition in the works, and recent price falls, APA could be an interesting opportunity for investors seeking a reliable income.

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Motley Fool contributor Sean O'Neill has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.