Tsakos Energy Navigation Ltd. (NYSE: TNP) Downgraded at Zacks Investment Research

Shares of Tsakos Energy Navigation Ltd. (NYSE: TNP) were downgraded by analysts at Zacks Investment Research in a note to their investors today. The company currently has a rating of Strong Sell on the stock. A number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $8.17, above the opening price of $4.96. Tsakos Energy Navigation Ltd. stock has a 52-week high of $9.63. Downgrades happen when analysts feel that the future prospects for the security have dropped from the original recommendation, usually due to a considerable and integral digression in the company’s actions, future direction or industry.

The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end

On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.

The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.

S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.

Shares of Tsakos Energy Navigation Ltd. (NYSE: TNP) opened at $4.96 yesterday trading between $4.88 and $5.01, and last traded at $4.97, which is an increase of $0.06 from the previous closing price.

Tsakos Energy Navigation Ltd. (NYSE: TNP) currently has a market cap of 424.98M.

336,639 shares traded hands yesterday, below the norm, out of a total float 57,028,000. Investors often use upticks in trading volume to determine substantial volume growth or dissemination by institutional investors, so trading volume is likely to increase in the next few days.

While higher trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.

Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain teams of analysts that investigate thousands of stocks, so it is good corroboration to see them buying a stock you are considering.

By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.

Trades for Tsakos Energy Navigation Ltd. (NYSE: TNP) have ranged from $4.48 – 9.63, and the stock now has a 50-day MA of $4.98 and 200-day MA of $5.58. Today’s last price is 0.48% below the 52 week high of $9.63.

Earnings growth is a crucial factor to look at when buying stocks and investors seek companies that have raised their earnings by at least 25% for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

Leave a Reply

Your email address will not be published. Required fields are marked *