Euronav (NYSE:EURN) Share Price Crosses Below 50 Day Moving Average of $17.11

Shares of Euronav NV (NYSE:EURN) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.11 and traded as low as $16.79. Euronav shares last traded at $16.81, with a volume of 99,913 shares.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $18.00 price target on shares of Euronav in a research report on Wednesday, May 8th. StockNews.com downgraded Euronav from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, Euronav presently has a consensus rating of “Hold” and an average price target of $19.18.

Euronav Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average price is $17.11 and its 200-day moving average price is $17.21.

Euronav (NYSE:EURN) last posted its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). The business had revenue of $203.46 million during the quarter, compared to analyst estimates of $195.96 million. Euronav had a return on equity of 23.36% and a net margin of 103.93%. As a group, research analysts forecast that Euronav NV will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Euronav

A number of hedge funds have recently modified their holdings of EURN. Norges Bank acquired a new position in shares of Euronav in the 4th quarter valued at $91,459,000. PSquared Asset Management AG acquired a new position in shares of Euronav in the fourth quarter worth about $43,207,000. Alpine Associates Management Inc. purchased a new position in shares of Euronav in the fourth quarter worth approximately $34,391,000. Water Island Capital LLC acquired a new stake in shares of Euronav during the fourth quarter valued at approximately $27,123,000. Finally, Beryl Capital Management LLC purchased a new stake in shares of Euronav in the 4th quarter valued at approximately $17,953,000.

About Euronav

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.