Today’s Market Runner: A Reversal for Tsakos Energy Navigation Ltd. Is Not Near. The Stock Reaches Yearly Low Today

Today's Market Runner: A Reversal for Tsakos Energy Navigation Ltd. Is Not Near. The Stock Reaches Yearly Low Today

The stock of Tsakos Energy Navigation Ltd. (NYSE:TNP) hit a new 52-week low and has $3.69 target or 11.00% below today’s $4.15 share price. The 7 months bearish chart indicates high risk for the $353.56M company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $3.69 price target is reached, the company will be worth $38.89 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. The stock decreased 5.03% or $0.22 on November 2, hitting $4.15. About 904,338 shares traded hands or 115.49% up from the average. Tsakos Energy Navigation Ltd. (NYSE:TNP) has declined 27.99% since March 31, 2016 and is downtrending. It has underperformed by 30.52% the S&P500.

Tsakos Energy Navigation Ltd. (NYSE:TNP) Ratings Coverage

Out of 5 analysts covering Tsakos Energy Navigation Ltd (NYSE:TNP), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Tsakos Energy Navigation Ltd has been the topic of 7 analyst reports since January 19, 2016 according to StockzIntelligence Inc. The company was downgraded on Tuesday, July 26 by UBS. The rating was maintained by JP Morgan with “Overweight” on Tuesday, March 15. The rating was maintained by Morgan Stanley with “Overweight” on Wednesday, June 1. Seaport Global reinitiated the shares of TNP in a report on Wednesday, May 4 with “Buy” rating. JP Morgan maintained it with “Overweight” rating and $11 target price in Thursday, April 7 report. The firm has “Buy” rating by Jefferies given on Wednesday, July 27.

According to Zacks Investment Research, “Tsakos Energy Navigation is a leading provider of international seaborne crude oil and petroleum product transportation services. It was incorporated in 1993 as an exempted company under the laws of Bermuda under the name Maritime Investment Fund Limited. In 1996, Maritime Investment Fund Limited was renamed MIF Limited. Their common shares were listed in 1993 on the Oslo Stock Exchange and the Bermuda Stock Exchange although they delisted from the OSE in March 2005 due to limited trading. The Company’s shares are no longer actively traded on the Bermuda exchange. In July 2001, the Company’s name was changed to Tsakos Energy Navigation to enhance their brand recognition in the tanker industry, particularly among charterers.”

More news for Tsakos Energy Navigation Ltd. (NYSE:TNP) were recently published by: Hellenicshippingnews.com, which released: “New Broker Ratings For Tsakos Energy Navigation Ltd” on August 23, 2016. Marketwired.com‘s article titled: “Tsakos Energy Navigation Limited Announces Date of Second Quarter 2016 …” and published on August 01, 2016 is yet another important article.

TNP Company Profile

Tsakos Energy Navigation Limited, incorporated on July 16, 1993, is a well-known provider of international seaborne crude oil and petroleum product transportation services. The Firm operates through maritime transportation of liquid energy related products segment. The Firm operates a fleet of approximately 50 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters. The Company’s fleet also includes a liquefied natural gas (LNG) carrier and over two shuttle suezmax tankers with dynamic positioning technology (DP2). Approximately 20 of the operating vessels are of ice-class specification. This fleet diversity includes a range of sister ships. The operating fleet totals approximately 5.2 million deadweight tonnage (dwt), all of which is double-hulled.

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