Boston, MA 03/14/2014 (wallstreetpr) – Knightsbridge Tankers Limited (NASDAQ:VLCCF) made about-turn in the last session after several days of subsequent strong margin gains. The shares last changed hands at $12.97, down 0.08 percent. The heavy volume trading session saw the shares changing hands between $12.70 and $13.17.
But even with the stock sort of crashing in the last session, there is no cause for alarm. Instead, an opportunity to catch the stock at a discount price may just be opening up. The fall of the shares on Thursday had little to do with any major company announcement as is usually the case. Yet, there is no doubt that the company has started firing from all cylinders. From vessels acquisition to adoption of more disciplined expenses and cost management.
Generally, the recovery in dry bulk transportation business and the potential for the company to even benefit more from the market with its news vessels should put to rest any concerns. It is no wonder that analyst sentiments on the stock are fast-changing in the right way.
Analyst sentiments
The stock of Knightsbridge Tankers Limited (NASDAQ:VLCCF) has been a subject of several rating agencies in the last 7 days – and beyond. With clear indications that the market is becoming favorable and the company is well placed to take advantage of the opportunities as they come, analysts are not hesitating to up their rating and price views on the stock.
The latest firm to issue sentiment on the stock is Morgan Stanley (NYSE:MS). The firm increased its price target on VLCCF from $9.50 in the previous note to $12. While the current price targets is overshadowed by the prevailing actual price, the margin of upgrade suggests that things are moving in the right direction for Knightsbridge Tankers Limited (NASDAQ:VLCCF). Morgan Stanley went ahead to reaffirm their “overweight” rating on the stock.
Latest performance
Knightsbridge Tankers Limited (NASDAQ:VLCCF) last issued its performance results February 5, whereby it reported earnings beat. The company ended fourth quarter with 12 cents EPS, against 8 cents that Wall Street was looking for.
The stock is up 27.5 percent in the last one month. Thus, the dip in the stock should come as a buy opportunity for investors who can decipher the strength in VLCCF.
