Shares of Frontline Ltd. (NYSE:FRO – Get Rating) saw an uptick in trading volume on Tuesday . 119,409 shares were traded during mid-day trading, a decline of 95% from the previous session’s volume of 2,618,272 shares.The stock last traded at $9.17 and had previously closed at $9.34.
Several research firms recently issued reports on FRO. Jefferies Financial Group upped their price objective on Frontline from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, February 18th. Zacks Investment Research raised Frontline from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 2nd. HC Wainwright increased their price target on Frontline from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, April 8th. Finally, StockNews.com started coverage on Frontline in a report on Thursday, March 31st. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Frontline currently has an average rating of “Hold” and an average price target of $9.23.
The company has a current ratio of 1.14, a quick ratio of 0.86 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $1.86 billion, a PE ratio of -182.00 and a beta of 0.05. The firm has a 50 day moving average price of $8.73 and a 200 day moving average price of $8.05.
Hedge funds have recently modified their holdings of the business. Folketrygdfondet grew its position in shares of Frontline by 10.3% during the fourth quarter. Folketrygdfondet now owns 11,499,940 shares of the shipping company’s stock valued at $81,305,000 after purchasing an additional 1,070,050 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Frontline by 81.3% during the third quarter. Goldman Sachs Group Inc. now owns 801,602 shares of the shipping company’s stock valued at $7,511,000 after purchasing an additional 359,494 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of Frontline during the fourth quarter valued at about $4,626,000. Bank of America Corp DE grew its position in shares of Frontline by 103.3% during the fourth quarter. Bank of America Corp DE now owns 570,615 shares of the shipping company’s stock valued at $4,034,000 after purchasing an additional 289,982 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Frontline by 2.3% during the fourth quarter. Schroder Investment Management Group now owns 523,313 shares of the shipping company’s stock valued at $32,864,000 after purchasing an additional 11,942 shares in the last quarter. Institutional investors and hedge funds own 20.33% of the company’s stock.
About Frontline (NYSE:FRO)
Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2021, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Hamilton, Bermuda.
- Get a free copy of the StockNews.com research report on Frontline (FRO)
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