Teekay Tankers Ltd. (TNK) has been under a strong bear grip, hence the stock is down -8.66% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1% in the past 1 week. The stock has risen by 1.62% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.49% in the past 4 weeks.
Teekay Tankers Ltd. (NYSE:TNK): The stock opened at $3.25 on Friday but the bulls could not build on the opening and the stock topped out at $3.25 for the day. The stock traded down to $3.10 during the day, due to lack of any buying support eventually closed down at $3.13 with a loss of -3.10% for the day. The stock had closed at $3.23 on the previous day. The total traded volume was 1,033,217 shares.
The stock has recorded a 20-day Moving Average of 2.09% and the 50-Day Moving Average is 5.64%. Teekay Tankers Ltd. has dropped 15.96% during the last 3-month period . Year-to-Date the stock performance stands at -51.97%.
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.