Technical Roundup on Shipping Stocks -- Nordic American Tankers, Frontline, Navios Maritime, and Capital Product Partners
NEW YORK, August 25, 2016 --
Stock-Callers.com's attention is directed to the Shipping industry which continues to struggle due to a weak global economy. As per MarineLink, orders for new vessels have dropped to a record low this year with the capacity running some 30% ahead of demand. Meanwhile, the ship-scrapping business is seeing accelerating demand, according to The Wall Street Journal. Let us review this morning's featured equities: Nordic American Tankers Ltd , Frontline Ltd , Navios Maritime Holdings Inc. , and Capital Product Partners L.P. . Sign up today and download for free the research reports for the stocks covered today at:
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Nordic American Tankers
Hamilton, Bermuda-based Nordic American Tankers Ltd's shares recorded a trading volume of 1.88 million shares on Wednesday, which was above their three months average volume of 1.49 million shares. The stock finished the trading session 2.04% lower at $10.55. The Company's shares are trading below their 50-day moving average by 17.94%. Furthermore, shares of Nordic American Tankers, which engages in acquiring and chartering double-hull tankers in Bermuda and internationally, have a Relative Strength Index (RSI) of 26.50.
On August 8th, 2016, Nordic American Tankers reported Net Voyage revenue of $61.65 million in Q2 2016 compared to Net voyage revenue of $73.46 million in the year ago period. The company reported net gain of $12.97 million, or $0.15 per share, for the reported quarter compared to net gain of $30.90 million, or $0.35 per share, in second Q2 2015. NAT complete research report is just a click away at:
http://stock-callers.com/registration/?symbol=NAT
Frontline
On Wednesday, Hamilton, Bermuda-based Frontline Ltd's shares recorded a trading volume of 1.71 million shares, which was above their three months average volume of 1.32 million shares. The stock ended the session 5.37% lower at $8.29. The Company's shares have gained 1.84% in the last one month and 10.03% over the previous three months. The stock is trading 3.47% above its 50-day moving average. Moreover, shares of Frontline, which engages in the seaborne transportation of crude oil and oil products worldwide, have an RSI of 53.92. The complimentary report on FRO can be downloaded at:
http://stock-callers.com/registration/?symbol=FRO
Navios Maritime Holdings
Monte Carlo, Monaco-based Navios Maritime Holdings Inc.'s stock ended the day 0.96% lower at $1.03 with a total trading volume of 189,422 shares. The Company's shares have gained 6.19% in the previous three months. The stock is trading 5.81% above its 50-day moving average. Additionally, shares of Navios Maritime Holdings, which operates as a seaborne shipping and logistics company, have an RSI of 54.54.
On August 22nd, 2016, the company announced that it will host a conference call on August 25th, 2016 at 8:30 am ET, at which time Navios Holdings' senior management will provide highlights and commentary on earnings results for Q2 and six months ended June 30th, 2016. The Company will report results for Q2 and six months ended June 30th, 2016, prior to the conference call. Sign up for your complimentary report on NM at:
http://stock-callers.com/registration/?symbol=NM
Capital Product Partners
Shares in Piraeus, Greece headquartered Capital Product Partners L.P. recorded a trading volume of 570,455 shares and ended the session 2.15% lower at $3.64. The stock has surged 40.88% over the previous three months. The Company's shares are trading above their 50-day and 200-day moving averages by 10.71% and 1.00%, respectively. Furthermore, shares of Capital Product Partners, which provides marine transportation services in Greece, have an RSI of 58.42.
On July 29th, 2016, the company reported that net income for the quarter ended June 30th, 2016 was $14.9 million. After taking into account the preferred interest in net income attributable to the unit holders of the 12,983,333 Class B Convertible Preferred Units outstanding as of June 30th, 2016, and the general partner's interest in the Partnership's net income, net income per common unit for the quarter ended June 30th, 2016 was $0.10, compared to $0.09 during the second quarter of 2015. Total revenues for Q2 2016 reached $60.9 million, an increase of 12% compared to $54.5 million in Q2 2015. The increase was primarily a result of the increase in the size of the Partnership's fleet.
On August 01st, 2016, Deutsche Bank reiterated its 'Hold' rating on the Company's stock with an increase of the target price from $2.50 a share to $4 a share. Download the research report for free on CPLP at:
http://stock-callers.com/registration/?symbol=CPLP
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