The S&P/ASX 200 (INDEXASX: ^AXJO) (ASX: XJO) was up just 0.3% to 4,941 points today. A number of shares fell significantly further however, and here’s why:

Collins Foods Ltd (ASX: CKF) fell 9% to $3.52, following on from yesterday’s 7% fall to $3.98. The sharp fall is unusual considering the company’s recent addition to the S&P/ASX 300 (INDEXASX: ^AXKO) (ASX: XKO) index, which can often spark additional buyer interest. Possibly the selling represented small cap-only funds exiting the stock, as volumes have been elevated over the past two days. Alternatively, a story published on Fortune.com in the US reported that Yum! Brands (KFC’s parent organisation) was spending extensively on remodelling its stores and upgrading its kitchens and processes. Investors could be worried that Collins Foods will have to go through the same process.

As it stands, Collins Foods doesn’t appear expensive, and it’s also well-funded with $40 million in cash and substantial debt headroom should such remodelling become necessary. Collins shares are up 40% in the past 12 months.

Ausdrill Limited (ASX: ASL) dropped 8% to $0.43 on no news today, although investors may be worried that the suspension of Arrium Ltd (ASX: ARI) could have fallout for Ausdrill. I couldn’t establish whether Arrium was a client of Ausdrill, though a look at Ausdrill’s company reports. However, a list of major customers and revenue by geographic diversification suggests an Arrium closure is unlikely to have much impact on Ausdrill at all. Alternatively, shareholders may be worried about the lawsuit against Senex Energy Ltd (ASX: SXY), even though this appears to be relatively insignificant. Recent falls in commodity prices could also have had an impact.

Ausdrill shares are up 52% in the past 12 months.

Lifehealthcare Group Ltd (ASX: LHC) lost 5% to $1.37 as investor uncertainty continues over whether the company can turn its performance around following a significant increase in expenses in the most recent reporting period. Additional uncertainty exists regarding potential intervention in the prosthetics market, which is reportedly overpriced by international standards. However, Lifehealthcare management stated that media reports covering the pricing have misrepresented implant price inflation, and overestimated public/private price variation. An Industry Working Group on Prosthesis has been established to deliver competitive pricing, and the report is due in August 2016.

Cautious investors may wish to wait for the report in August, but Lifehealthcare reported a 4% variation between private and public markets on a weighted average basis in its most recent report. Assumptions of a further deterioration in company performance could be unfounded.

Either way, Lifehealthcare shares are still down 58% in the past 12 months.

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Motley Fool contributor Sean O'Neill owns shares of LifeHealthcare Group Limited and Senex Energy Limited. 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.