Euronav NV (NYSE:EURN) Sees Large Drop in Short Interest

Euronav NV (NYSE:EURN) saw a significant decrease in short interest during the month of November. As of November 29th, there was short interest totalling 1,460,000 shares, a decrease of 10.4% from the November 14th total of 1,630,000 shares. Based on an average daily volume of 1,430,000 shares, the short-interest ratio is presently 1.0 days. Approximately 0.9% of the shares of the stock are short sold.

EURN has been the subject of several research analyst reports. ValuEngine lowered shares of Euronav from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Zacks Investment Research raised shares of Euronav from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, October 21st. Finally, Stifel Nicolaus upgraded shares of Euronav from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Euronav currently has an average rating of “Buy” and a consensus price target of $12.50.

EURN stock traded up $0.20 during mid-day trading on Friday, hitting $11.45. 1,203,305 shares of the stock were exchanged, compared to its average volume of 688,146. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.88 and a quick ratio of 1.24. The business has a fifty day moving average price of $11.02 and a 200 day moving average price of $9.39. Euronav has a 12 month low of $6.77 and a 12 month high of $11.79. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -17.62 and a beta of 1.00.

Euronav (NYSE:EURN) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. The firm had revenue of $90.44 million for the quarter, compared to analyst estimates of $134.83 million. Euronav had a negative return on equity of 1.31% and a negative net margin of 5.12%. As a group, equities analysts forecast that Euronav will post 0.57 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in EURN. Steward Partners Investment Advisory LLC bought a new stake in shares of Euronav in the 2nd quarter worth approximately $25,000. Aperio Group LLC bought a new position in shares of Euronav during the second quarter valued at about $68,000. Swiss National Bank grew its stake in shares of Euronav by 16.7% during the second quarter. Swiss National Bank now owns 327,517 shares of the shipping company’s stock valued at $3,067,000 after buying an additional 46,826 shares during the last quarter. SCP Investment LP purchased a new position in shares of Euronav in the second quarter worth about $378,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Euronav by 104.6% in the second quarter. JPMorgan Chase & Co. now owns 433,186 shares of the shipping company’s stock worth $4,007,000 after buying an additional 221,416 shares during the period. Institutional investors own 28.51% of the company’s stock.

About Euronav

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

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