Teekay Tankers Ltd. (TNK) : During the past 4 weeks, traders have been relatively bearish on Teekay Tankers Ltd. (TNK), hence the stock is down -10.66% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -7.69% relative to the S&P 500. The 4-week change in the price of the stock is -9.74% and the stock has fallen -7.64% in the past 1 week.
The stock has recorded a 20-day Moving Average of 5.11% and the 50-Day Moving Average is 9.3%. Teekay Tankers Ltd. (NYSE:TNK): On Fridays trading session , Opening price of the stock was $2.8 with an intraday high of $2.85. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $2.76. However, the stock managed to close at $2.78, a loss of 0.71% for the day. On the previous day, the stock had closed at $2.8. The total traded volume of the day was 1,278,978 shares.
Institutional Investors own 56.14% of Teekay Tankers Ltd. shares. Also, In the latest statement by the brokerage house, Danske Bank downgrades its outlook on Teekay Tankers Ltd. (NYSE:TNK). The current rating of the shares is Sell, according to the research report released by the firm. Previously, the company had a rating of Hold. The rating by the firm was issued on August 8, 2016.
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Companys business is to own crude oil and product tankers. The Company owns around 11 Aframax Tankers, three medium range product tankers, 10 Suezmax tankers and three long range 2 product tankers. The Companys chartered-in vessels include eight Aframax Tankers and four long range 2 product tankers. The Company also operates one 50% owned very large crude carrier (VLCC). The Companys operations are managed by Teekay Tankers Management Services Ltd., which provides the Company with commercial, technical, administrative and strategic services.