The stock of Euronav NV Ordinary Shares (NYSE:EURN) reached all time low today, Nov, 4 and still has $6.64 target or 8.00% below today’s $7.22 share price. This indicates more downside for the $1.17B company. This technical setup was reported by Barchart.com. If the $6.64 PT is reached, the company will be worth $93.60 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 676,763 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 has “Equal-Weight” rating given on Thursday, August 25 by Morgan Stanley. JP Morgan downgraded Euronav NV Ordinary Shares (NYSE:EURN) rating on Tuesday, January 12. JP Morgan has “Neutral” rating and $16 price target. The rating was maintained by JP Morgan with “Neutral” on Thursday, April 7. Seaport Global reinitiated Euronav NV Ordinary Shares (NYSE:EURN) on Wednesday, May 4 with “Buy” rating. The company was maintained on Thursday, October 6 by Citigroup. The stock of Euronav NV Ordinary Shares (NYSE:EURN) has “Neutral” rating given on Tuesday, July 26 by UBS. Euro Pacific Capital initiated the shares of EURN in a report on Tuesday, September 29 with “Buy” rating. Wells Fargo initiated Euronav NV Ordinary Shares (NYSE:EURN) on Tuesday, August 25 with “Outperform” rating. On Friday, February 26 the stock rating was downgraded by Deutsche Bank to “Hold”. The firm has “Buy” rating by UBS given on Friday, August 21.
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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