Ship management company

Teekay Tankers Ltd. (NYSE:TNK) Short Interest Up 43.7% in April


Teekay Tankers Ltd. (NYSE: TNKGet a rating) experienced significant growth in short-term interest in the month of April. As of April 15, there was short interest totaling 1,200,000 shares, a growth of 43.7% from the total of 835,300 shares as of March 31. Approximately 5.1% of the company’s shares are sold short. Based on an average trading volume of 399,600 shares, the short-term interest rate ratio is currently 3.0 days.

Shares of TNK traded at $0.46 during Friday trading hours, hitting $16.01. 314,638 shares of the company were traded, against an average volume of 482,267. Teekay Tankers has a 1-year low of $9.89 and a 1-year high of $17.63. The company has a debt ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.56. The stock has a market capitalization of $540.18 million, a P/E ratio of -2.23 and a beta of -0.13. The stock’s fifty-day moving average is $14.54 and its 200-day moving average is $12.82.

Teekay Tankers (NYSE: TNKGet a rating) last released its quarterly results on Thursday, February 24. The shipping company reported ($0.74) earnings per share (EPS) for the quarter, beating Thomson Reuters consensus estimate of ($0.84) by $0.10. Teekay Tankers had a negative net margin of 44.69% and a negative return on equity of 14.97%. The company posted revenue of $160.30 million in the quarter, compared to analyst estimates of $64.78 million. In the same quarter a year earlier, the company posted ($1.21) earnings per share. The company’s quarterly revenue increased by 25.4% compared to the same quarter last year. On average, equity research analysts expect Teekay Tankers to post -0.4 EPS for the current year.

A number of large investors have been buying and selling stocks recently. Wilen Investment Management CORP. bought a new stake in Teekay Tankers during the third quarter worth approximately $44,000. Royal Bank of Canada increased its stake in Teekay Tankers by 48.2% during the second quarter. Royal Bank of Canada now owns 4,282 shares of the shipping company worth $62,000 after buying 1,392 more shares in the last quarter. Wells Fargo & Company MN increased its stake in Teekay Tankers by 32.5% during the second quarter. Wells Fargo & Company MN now owns 4,997 shares of the shipping company worth $72,000 after buying 1,225 additional shares in the last quarter. Citigroup Inc. increased its stake in Teekay Tankers by 457.8% during the third quarter. Citigroup Inc. now owns 6,331 shares of the shipping company worth $92,000 after buying an additional 5,196 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Teekay Tankers during the third quarter worth approximately $209,000. 28.74% of the shares are held by hedge funds and other institutional investors.

TNK has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Teekay Tankers from a “hold” rating to a “sell” rating in a report released Wednesday. StockNews.com launched a hedge on the shares of Teekay Tankers in a research report on Thursday, March 31. They set a “sell” rating for the company. Finally, Jefferies Financial Group launched a hedge on the shares of Teekay Tankers in a research report on Wednesday. They set a “buy” rating for the company. Two research analysts gave the stock a sell rating and three gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.00.

About Teekay Tankers (Get a rating)

Teekay Tankers Ltd. provides shipping services to the petroleum industries in Bermuda and overseas. The Company offers travel and time charter services; and offshore Ship-to-ship transfer services of goods, primarily crude oil and refined petroleum products, as well as liquid gases and various other products.

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