The stock of Teekay Corporation (NYSE:TK) hit a new 52-week low and has $18.25 target or 9.00% below today’s $20.06 share price. The 7 months bearish chart indicates high risk for the $1.55B company. The 1-year low was reported on Dec, 12 by Barchart.com. If the $18.25 price target is reached, the company will be worth $139.50 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 6.17% or $1.32 on December 11, hitting $20.06. About 857,080 shares traded hands or 15.69% up from the average. Teekay Corporation (NYSE:TK) has declined 57.63% since May 11, 2015 and is downtrending. It has underperformed by 53.21% the S&P500.
Out of 10 analysts covering Teekay Corporation (NYSE:TK), 9 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 82% are positive. Teekay Corporation was the topic in 5 analyst reports since August 7, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “Teekay Shipping Corporation is a leading provider of international crude oil and petroleum product transportation services through the world’s largest fleet of medium size oil tankers. The Company’s modern fleet provides such transportation services to major oil companies, major oil traders and government agencies, principally in the region spanning from the Red Sea to the U.S. West Coast.” Get a free copy of the Zacks research report on Teekay Corporation (TK).
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 hit a new 52-week low and has .25 target or 9.00% below today’s .06 share price. The 7 months bearish chart indicates high risk…){kind=link}