3 ASX shares at 52-week lows: Time to invest?

Although the local market pushed higher on Tuesday, not all shares were able to follow the market higher.

Some even fell to a 52-week low or worse. Here are three that caught my eye, is there a buying opportunity here?

The Carnegie Clean Energy Ltd (ASX: CCE) share price plunged over 27% on Tuesday to reach a new multi-year low of 1.6 cents. Shareholders of the wave energy clean technology development company don’t appear to be overly impressed with its decision to offload its Energy Made Clean business to Tag Pacific Limited (ASX: TAG) for 58.5 million Tag shares. This is despite management’s belief that it will create one of the region’s largest, specialist engineering, procurement, construction (EPC) and build, own, operate (BOO) specialists in the growing off-grid and fringe-of-grid solar, battery and, microgrid markets.

The Marley Spoon (ASX: MMM) share price has had a disappointing start to life on the Australian share market. Its shares fell to a new low of $1.02 on Tuesday before closing the day at $1.10. The meal delivery company’s shares have now fallen 22.5% from its IPO price of $1.42. Investors appear to have been put off by the company’s FY 2018 forecast of revenue of EUR93 million and a net loss of EUR32.3 million. While I do like the look of the company and the space it operates in, I don’t intend to invest until its operations are running close to breakeven.

The Onemarket Ltd (ASX: OMN) share price is another recent listing on the decline. The retail technology company’s shares tumbled to a new low of $1.13 on Tuesday. Onemarket demerged from Westfield Corp (ASX: WFD) in May and had traded as high as $1.76 shortly after hitting the ASX boards. According to the AFR, chairman Steven Lowy warned investors to treat Onemarket as being riskier than a real estate company. Considering Westfield shareholders were typically of the low risk variety, this appears to have led to many shareholders offloading shares no sooner than they received them. I think it is one to keep an eye on, but I’m not a buyer just yet.

The ASX small cap up 285% with no sign of stopping...

One Australian company has developed a state of the art device that's revolutionizing hospitals all over the world. Even better, this device is so profitable that the company rakes in 90% margins. That's a lot of cash. So no wonder the stock's up 285% since 2008 – with no signs of stopping...

To discover the name and code, simply click the link below. You'll discover our expert's #1 medical technology pick... and can decide for yourself whether to get invested today.

Click here to claim your free report.

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. 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 Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.