Stock of The Day: Euronav NV Ordinary Shares’s Trend Down, Especially After Today’s 1 Year Low Hit

Stock of The Day: Euronav NV Ordinary Shares's Trend Down, Especially After Today's 1 Year Low Hit

The stock of Euronav NV Ordinary Shares (NYSE:EURN) hit a new 52-week low and has $6.84 target or 6.00% below today’s $7.28 share price. The 6 months bearish chart indicates high risk for the $1.17 billion company. The 1-year low was reported on Nov, 4 by Barchart.com. If the $6.84 price target is reached, the company will be worth $70.20 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 619,922 shares traded hands. Euronav NV Ordinary Shares (NYSE:EURN) has declined 26.35% since April 4, 2016 and is downtrending. It has underperformed by 27.44% the S&P500.

Euronav NV Ordinary Shares (NYSE:EURN) Ratings Coverage

Out of 9 analysts covering Euronav NV (NYSE:EURN), 4 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 44% are positive. Euronav NV has been the topic of 13 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Thursday, April 7 by JP Morgan. The rating was downgraded by Deutsche Bank on Friday, February 26 to “Hold”. As per Tuesday, August 25, the company rating was initiated by Wells Fargo. The firm earned “Buy” rating on Wednesday, May 4 by Seaport Global. Citigroup maintained the shares of EURN in a report on Thursday, October 6 with “Buy” rating. Morgan Stanley downgraded the shares of EURN in a report on Thursday, August 25 to “Equal-Weight” rating. UBS initiated it with “Buy” rating and $18.50 target price in Friday, August 21 report. Vetr downgraded it to “Hold” rating and $15.19 target price in Monday, September 21 report. JP Morgan downgraded the shares of EURN in a report on Tuesday, January 12 to “Neutral” rating. The stock has “Neutral” rating given by UBS on Tuesday, July 26.

According to Zacks Investment Research, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium.”

More news for Euronav NV Ordinary Shares (NYSE:EURN) were recently published by: Hellenicshippingnews.com, which released: “Euronav NV Ordinary Shares has been downgraded to Sell in a statement by Zacks …” on October 17, 2016. Prnewswire.com‘s article titled: “Euronav NV Announces The Upsizing And Pricing Of Its Initial Public Offering …” and published on January 23, 2015 is yet another important article.

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