Tsakos Energy Navigation Ltd (NYSE:TEN) Stock Short Interest Climbs 98.5%

Tsakos Energy Navigation Ltd (NYSE:TEN) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 578,195 shares, an increase of 98.5% from the September 30th total of 291,215 shares. Based on an average daily trading volume, of 488,645 shares, the short-interest ratio is presently 1.2 days. Currently, 1.9% of the company’s shares are sold short.

Tsakos Energy Navigation Stock Performance

Shares of TEN opened at $49.51 on Tuesday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 5.02 and a beta of -0.10. Tsakos Energy Navigation has a 12 month low of $21.65 and a 12 month high of $56.73. The firm has a fifty day simple moving average of $48.83 and a 200 day simple moving average of $39.81. The company has a current ratio of 1.40, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings results on Thursday, September 10th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $2.93 by $0.21. Tsakos Energy Navigation had a return on equity of 29.44% and a net margin of 33.81%. The firm had revenue of $246.28 million during the quarter, compared to analysts’ expectations of $238.87 million.

Insider Transactions at Tsakos Energy Navigation

In other news, CFO Theoharrys Kosmatos sold 10,000 shares of the business’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $53.00, for a total transaction of $530,000.00. Following the completion of the transaction, the chief financial officer directly owned 14,700 shares in the company, valued at approximately $779,100. The trade was a 40.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clio Hatzimichalis sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $41.07, for a total value of $205,350.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at approximately $205,350. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 20,000 shares of company stock worth $1,001,350. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Tsakos Energy Navigation

Several hedge funds have recently added to or reduced their stakes in TEN. EverSource Wealth Advisors LLC increased its position in Tsakos Energy Navigation by 56.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company’s stock valued at $81,000 after purchasing an additional 743 shares during the period. State Street Corp lifted its position in shares of Tsakos Energy Navigation by 2.4% during the 2nd quarter. State Street Corp now owns 65,687 shares of the company’s stock valued at $2,323,000 after acquiring an additional 1,522 shares during the period. Royal Bank of Canada boosted its stake in Tsakos Energy Navigation by 638.2% during the first quarter. Royal Bank of Canada now owns 2,997 shares of the company’s stock worth $118,000 after acquiring an additional 2,591 shares in the last quarter. Ascent Group LLC bought a new position in Tsakos Energy Navigation during the third quarter worth $249,000. Finally, R Squared Ltd acquired a new stake in Tsakos Energy Navigation in the first quarter worth $231,000. 19.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEN has been the subject of several recent analyst reports. Weiss Ratings raised shares of Tsakos Energy Navigation from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Wall Street Zen raised shares of Tsakos Energy Navigation from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. (NYSE: TEN) is an international energy transportation company engaged primarily in the ownership and operation of oceangoing tankers. Its fleet has transported crude oil, refined petroleum products, and other energy-related cargoes for major oil companies, commodity traders, and other commercial customers.

The company has operated a diversified fleet that has included crude oil tankers, product tankers, shuttle tankers, and liquefied natural gas carriers. Through its vessels and shipping services, Tsakos Energy Navigation serves global energy markets and supports the movement of petroleum and related products between major production, refining, storage, and consumption centers.

Founded in 1993, the company is part of the Tsakos maritime group, which has roots in Greece and a broader international shipping presence.