Price Action Report: Could DHT Holdings Inc Gain Strenght? The Stock Reaches 52 Week Low

Price Action Report: Could DHT Holdings Inc Gain Strenght? The Stock Reaches 52 Week Low

The stock of DHT Holdings Inc (NYSE:DHT) hit a new 52-week low and has $2.89 target or 14.00% below today’s $3.36 share price. The 5 months bearish chart indicates high risk for the $306.77 million company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $2.89 price target is reached, the company will be worth $42.95 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 10.43 million shares traded hands or 492.61% up from the average. DHT Holdings Inc (NYSE:DHT) has declined 30.90% since March 31, 2016 and is downtrending. It has underperformed by 33.43% the S&P500.

DHT Holdings Inc (NYSE:DHT) Ratings Coverage

Out of 7 analysts covering DHT Holdings (NYSE:DHT), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. DHT Holdings has been the topic of 11 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The stock has “Equal-Weight” rating given by Morgan Stanley on Thursday, August 25. The rating was maintained by JP Morgan on Thursday, April 7 with “Neutral”. The rating was initiated by Morgan Stanley on Monday, September 14 with “Overweight”. The firm has “Neutral” rating by UBS given on Tuesday, July 26. As per Tuesday, September 1, the company rating was upgraded by TheStreet. The rating was reinitiated by Seaport Global on Wednesday, May 4 with “Buy”. Wells Fargo initiated DHT Holdings Inc (NYSE:DHT) on Monday, September 26 with “Market Perform” rating. Jefferies maintained the shares of DHT in a report on Wednesday, July 27 with “Buy” rating. The company was downgraded on Tuesday, January 12 by JP Morgan.

According to Zacks Investment Research, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities.”

More news for DHT Holdings Inc (NYSE:DHT) were recently published by: Globenewswire.com, which released: “DHT Holdings, Inc. third quarter 2016 results” on November 01, 2016. Globenewswire.com‘s article titled: “DHT Holdings, Inc. second quarter 2016 results” and published on August 09, 2016 is yet another important article.

DHT Company Profile

DHT Holdings, Inc. (DHT), incorporated on February 12, 2010, is a holding company. The Company, through its subsidiaries, owns and operates a fleet of crude oil tankers. The Company’s fleet consists of approximately 20 crude oil tankers in operation, all of which are owned by the company. The Company’s fleet in operation consists of over 20 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (DWTs), approximately one Suezmax tanker (Suezmax), which is a tanker ranging in size from 130,000 to 170,000 DWT and over two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 DWT. The Company’s fleet principally operates on international routes and its fleet in operation has a combined carrying capacity of approximately 5,656,937 DWT. The Company’s subsidiaries include DHT Maritime, Inc., DHT Chartering, Inc., Sophie Tanker Corporation, Samco Shipholding Pte. Ltd., DHT Jaguar Limited and Chris Tanker Corporation.

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