The stock was down 4.93% to $9.64 at 2:03 p.m.
More than 21 million shares had changed hands, compared to the average volume of 17,940,400.
TheStreet Ratings Team has this to say about their recommendation:
"We rate PENNEY (J C) CO (JCP) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: JCP Ratings ReportJCP data by YCharts