NEW YORK, January 11, 2017 /PRNewswire/ --
Today, Stock-Callers.com has issued research reports on: DryShips Inc. (NASDAQ: DRYS), Nordic American Tankers Ltd (NYSE: NAT), Teekay Tankers Ltd (NYSE: TNK), and Golar LNG Ltd (NASDAQ: GLNG). According to the Baltic and International Maritime Council, the world is unlikely to grow its GDP in 2017 in a way that would benefit the Shipping industry, noting that the global GDP growth is driven by service sectors and developing and emerging economies, resulting in a lower GDP-to-trade multiplier, and therefore generating a lower level of shipping demand. Learn more about these stocks by accessing their free research reports at:
On Tuesday, shares in Athens, Greece-based DryShips Inc. recorded a trading volume of 20.75 million shares, which was above their three months average volume of 8.18 million shares. The stock ended the day at $2.37, dropping 13.19% from the last trading session. The Company's shares are trading below their 50-day moving average by 72.71%. Furthermore, shares of DryShips, which provides seaborne dry cargo and offshore support services, have a Relative Strength Index (RSI) of 46.09.
On January 09th, 2017, DryShips announced that it has exercised its first option under the previously announced option agreement to acquire one Very Large Gas Carrier currently under construction at Hyundai Heavy Industries (HHI) for a purchase price of $83.5 million. Part of the purchase price (about 25%) will be paid on closing, expected within January, with the balance payable in installments until the vessel's delivery from HHI. The Company expects the total gross backlog associated with this time charter to be $54.0 million, or $92.7 million including the optional periods, and expects to take delivery of the vessel in June 2017. Free research report on DRYS is available at:
Nordic American Tankers
Hamilton, Bermuda-based Nordic American Tankers Ltd's stock rose 0.12%, finishing yesterday's session at $8.50 with a total trading volume of 1.31 million shares. The Company's shares have gained 1.19% on an YTD basis. The stock is trading below its 50-day moving average by 2.21%. Additionally, shares of Nordic American Tankers, which engages in acquiring and chartering double-hull tankers in Bermuda and internationally, have an RSI of 47.35.
On December 20th, 2016, research firm Maxim Group initiated a 'Sell' rating on the Company's stock, with a target price of $7 per share.
On December 21st, 2016, Nordic American announced that Q4 2016 cash results are expected to be about $20,000 (time charter equivalent) per ship per day. The Company stated that its NAT fleet is increasing and its 30th Suezmax tanker is scheduled to be delivered in mid-February 2017. The Company stated that three more newbuildings will increase the fleet with further 10%, impacting dividend and earnings capacity correspondingly. The complimentary research report on NAT can be downloaded at:
Shares in Hamilton, Bermuda-based Teekay Tankers Ltd ended Tuesday's session 4.27% lower at $2.24. The stock recorded a trading volume of 2.69 million shares, which was above its three months average volume of 1.70 million shares. The Company's shares are trading 5.65% below their 50-day moving average. Moreover, shares of Teekay Tankers, which engages in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide, have an RSI of 40.79.
On November 03rd, 2016, Teekay Tankers reported GAAP net loss of $5.5 million, or $0.03 per share, and adjusted net loss of $1.5 million, or $0.01 per share, in Q3 2016. The Company's revenue was $104.62 million in Q3 2016 compared to revenue of $126.40 million in Q3 2015. The company generated free cash flow of $26.6 million in Q3 2016 and declared cash dividend of $0.03 per share for Q3 2016, representing the minimum quarterly dividend. Visit us today and access our complete research report on TNK at:
At the close, Hamilton, Bermuda headquartered Golar LNG Ltd's stock declined 0.41%, finishing at $24.28. A total volume of 610,395 shares was traded. The Company's shares have advanced 1.42% in the last month, 6.06% over the previous three months, and 5.84% on an YTD basis. The stock is trading 3.36% above its 50-day moving average and 21.25% above its 200-day moving average. Additionally, shares of Golar, engages in the transportation, regasification, liquefaction, and trading of LNG, have an RSI of 55.95.
On November 30th, 2016, Golar LNG announced that its total operating revenue improved to $22.27 million from $18.37 million recorded at the end of Q2 2016. Golar LNG reported Q3 2016 operating loss of $28.3 million compared to a loss of $37.2 million in Q2 2016. Get free access to your research report on GLNG at:
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