Frontline Ltd. (NYSE:FRO – Get Rating)’s share price dropped 3.3% on Tuesday . The stock traded as low as $8.21 and last traded at $8.30. Approximately 29,999 shares changed hands during trading, a decline of 99% from the average daily volume of 2,180,322 shares. The stock had previously closed at $8.58.
FRO has been the topic of several recent research reports. HC Wainwright lifted their target price on shares of Frontline from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 8th. Jefferies Financial Group initiated coverage on shares of Frontline in a report on Wednesday, April 27th. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Frontline from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, StockNews.com initiated coverage on shares of Frontline in a report on Thursday, March 31st. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.24.
The stock has a market capitalization of $1.69 billion, a P/E ratio of -171.60 and a beta of 0.10. The firm’s fifty day moving average is $8.66 and its 200-day moving average is $7.94. The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 1.31.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Beacon Capital Management Inc. bought a new position in shares of Frontline in the first quarter worth about $25,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Frontline during the 4th quarter worth approximately $27,000. Cetera Investment Advisers acquired a new stake in shares of Frontline during the 3rd quarter worth approximately $96,000. Qube Research & Technologies Ltd acquired a new stake in shares of Frontline during the 1st quarter worth approximately $93,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Frontline during the 4th quarter worth approximately $80,000. 20.33% of the stock is owned by institutional investors.
Frontline Company Profile (NYSE:FRO)
Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2021, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Hamilton, Bermuda.
- Get a free copy of the StockNews.com research report on Frontline (FRO)
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