Teekay Co. (NYSE:TK) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 3,650,000 shares, a decrease of 11.8% from the December 15th total of 4,140,000 shares. Currently, 5.3% of the company’s shares are sold short. Based on an average trading volume of 713,500 shares, the days-to-cover ratio is currently 5.1 days.
Separately, ValuEngine downgraded Teekay from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th.
Shares of NYSE TK traded up $0.13 on Tuesday, hitting $5.00. The company had a trading volume of 462,800 shares, compared to its average volume of 528,622. Teekay has a 12-month low of $2.82 and a 12-month high of $5.76. The business has a 50 day moving average of $5.08 and a two-hundred day moving average of $4.48. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.68 and a quick ratio of 0.68.
Teekay (NYSE:TK) last issued its quarterly earnings results on Wednesday, November 13th. The shipping company reported ($0.24) EPS for the quarter. The business had revenue of $328.01 million during the quarter. Teekay had a negative net margin of 18.38% and a negative return on equity of 1.95%.
A number of institutional investors and hedge funds have recently modified their holdings of TK. Renaissance Technologies LLC boosted its holdings in Teekay by 24.4% in the second quarter. Renaissance Technologies LLC now owns 1,619,200 shares of the shipping company’s stock valued at $5,570,000 after purchasing an additional 317,400 shares during the last quarter. BlackRock Inc. increased its position in Teekay by 8.8% in the 2nd quarter. BlackRock Inc. now owns 3,674,758 shares of the shipping company’s stock valued at $12,640,000 after acquiring an additional 297,524 shares during the period. Marshall Wace LLP acquired a new stake in Teekay in the 2nd quarter valued at approximately $494,000. A.R.T. Advisors LLC increased its position in Teekay by 200.4% in the 2nd quarter. A.R.T. Advisors LLC now owns 159,191 shares of the shipping company’s stock valued at $548,000 after acquiring an additional 106,200 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Teekay in the 2nd quarter valued at approximately $350,000. 18.67% of the stock is owned by hedge funds and other institutional investors.
Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers; floating production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.
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