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These ASX shares have just fallen to 52-week lows

The market may be storming higher today thanks to strong gains in the resources and banking sector from the likes of Fortescue Metals Group Limited (ASX: FMG) and Commonwealth Bank of Australia (ASX: CBA), but not all shares have managed to push higher.

In fact, the two shares listed below have just touched on 52-week lows. Here’s why these shares are down in the dumps today:

The Freedom Insurance Group Ltd (ASX: FIG) share price has fallen to a 52-week low of 43 cents today. This decline means that the life insurance seller’s shares are down 55% from their 52-week high of 97 cents and are closing in fast on their IPO price of 35 cents.

Investors have been heading to the exits since November when it downgraded its first-half EBITDA guidance to between $7.5 million to $9 million. This will be a drop of between 19% and 32% on the prior corresponding period. While I think Freedom Insurance’s shares looks quite cheap at the moment after this decline, I would suggest that investors wait for its half-year update to see if the company’s performance has improved before investing.

The SDI Limited (ASX: SDI) share price has fallen sharply on Friday and tumbled to a 52-week low of 47%. Unfortunately for its shareholders this means that the dental products provider’s shares have lost 33% of their value since this time last year.

This morning SDI Limited provided the market with a trading update which revealed that sales for the 6 months ending 31 December 2017 are expected to be $33.6 million. This will be a decline of 2.2% on the previous corresponding period. General weakness in the dental industry and sizeable decline in Amalgam product sales have played a key role in its overall sales decline. I would urge investors to stay clear of SDI Limited until conditions in the dental industry have improved greatly.

Need a lift after these declines? Then check out these hot tech shares.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Freedom Insurance. 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.

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