Tsakos Energy Navigation Limited (NYSE:TNP) Short Interest Update

Tsakos Energy Navigation Limited (NYSE:TNP - Get Free Report) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 192,300 shares, a drop of 23.3% from the March 15th total of 250,800 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 277,500 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Tsakos Energy Navigation

A number of hedge funds have recently made changes to their positions in TNP. Citigroup Inc. purchased a new stake in Tsakos Energy Navigation in the fourth quarter worth about $32,000. Point72 Asset Management L.P. purchased a new stake in shares of Tsakos Energy Navigation during the fourth quarter valued at approximately $47,000. Altshuler Shaham Ltd grew its holdings in shares of Tsakos Energy Navigation by 33.3% during the fourth quarter. Altshuler Shaham Ltd now owns 4,000 shares of the shipping company's stock valued at $75,000 after buying an additional 1,000 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Tsakos Energy Navigation by 100.9% during the third quarter. Royal Bank of Canada now owns 4,182 shares of the shipping company's stock valued at $64,000 after buying an additional 2,100 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Tsakos Energy Navigation during the third quarter valued at approximately $91,000. 19.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TNP. StockNews.com raised shares of Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a report on Saturday. Jefferies Financial Group restated a "buy" rating and set a $30.00 price target on shares of Tsakos Energy Navigation in a research report on Wednesday, March 27th.

Tsakos Energy Navigation Trading Down 1.7 %

Shares of TNP traded down $0.44 during mid-day trading on Friday, reaching $25.35. 250,621 shares of the stock traded hands, compared to its average volume of 332,803. Tsakos Energy Navigation has a 1 year low of $15.50 and a 1 year high of $27.20. The company has a market cap of $748.08 million, a price-to-earnings ratio of 2.81 and a beta of -0.14. The firm has a fifty day moving average price of $24.69 and a 200 day moving average price of $22.95.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.