Clarkson Capital Upgrades Paragon Shipping to “Outperform” (PRGN)
Posted by Alphonse Anthony on Dec 10th, 2013 // No Comments
Paragon Shipping logoParagon Shipping (NASDAQ:PRGN) was upgraded by equities research analysts at Clarkson Capital to an “outperform” rating in a research note issued to investors on Tuesday, Analyst Ratings Network reports.
Shares of Paragon Shipping (NASDAQ:PRGN) traded up 3.72% during mid-day trading on Tuesday, hitting $5.85. 322,481 shares of the company’s stock traded hands. Paragon Shipping has a 52-week low of $1.93 and a 52-week high of $9.40. The stock has a 50-day moving average of $5.25 and a 200-day moving average of $5.19. The company’s market cap is $66.1 million.
PRGN has been the subject of a number of other recent research reports. Analysts at Global Hunter Securities upgraded shares of Paragon Shipping from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $10.00 price target on the stock, down previously from $10.75. Analysts at Zacks downgraded shares of Paragon Shipping from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, November 13th. They now have a $6.20 price target on the stock.
Paragon Shipping Inc is a global provider of drybulk shipping services. It is a provider of international seaborne transportation services, carrying various drybulk cargoes, including iron ore, coal, grain, bauxite, phosphate and fertilize
they gave $10 price target for prgn
From here, in terms of tonnage at current ownership Balt might have z%5 more capacity
With more debt
you might have a big aqzzzz but clarkson has bigger AWZZZZ DUDE
l believe they financed scorpio shipping and novais maritime if my memory is correct
l like balt -cargill deal, also balt has more exposure to press for some reason. plus chart is very bullish.
in terms of tonnage balt is also bigger.
it might be a great swing trade for me but prgn is very difficult to sell and buy
l sold 5k at $6 and stock crashed down to $5.77
Investors “know stocks have had a great run” this year, Karsten added, and they’re questioning how much further equities can go.
What strategists are saying?;There wasn’t much macroeconomic data out Wednesday, and Fed officials observed “radio silence” ahead of their Dec. 17-18 meeting, so the session’s action is getting blamed on what could happen at that Fed meeting, said Andres Garcia-Amaya, global markets strategist at J.P. Morgan Funds. “The Fed is on everyone’s mind,” he told MarketWatch. Garcia-Amaya said the chance of a December taper has increased, but his team sees a January reduction as most likely.
Today’s movers & shakers: MasterCard Inc. MA +0.15% jumped 3.5% after the credit-card giant’s board approved a stock split and authorized a new stock buyback program late Tuesday. Costco Wholesale Corp. COST -1.22% fell 1.2% after the warehouse retailer posted first-quarter earnings and revenue that missed forecasts. Read more in the Movers & Shakers column.
Other markets: Gold lost ground and crude oil also dropped. Stocks in Shanghai and Hong Kong led losses in Asia, while European markets finished lower, too.
Scorpio Bulkers adds to IPO pot
Expanding dry bulk player adds another $100m to New York float, leaving $200m of massive $1.34bn newbuilding programme unfunded.
you dont have to win all the time even paulson lost soo much money
soros lost millions of dollars on spy puts just recently
l lost here and there tons of money but l doubled in couple stocks
and l never have to create a new ID lol
Exports from Northern Europe to Asia increased by 4% between August and September, up to 382,000 teu, but this still resulted in 3Q 13’s traffic being 3% less than 2Q 13’s. This appears seasonal, as the year-to-date total of 3.5 million teu remains 5% higher than between January and September last year. Seasonality is difficult to define due to China’s extraordinary growth since 2002. Figure 4 shows the picture from Northern Europe to all of NE Asia since the middle of 2011, of which China accounts for between 80% and 90%.
Exports of Containerisable Cargo from N Europe to NE Asia (’000 tons)
Source: Global Trade Information Services
The consequence of the westbound ocean carrier service changes mentioned earlier is that the capacity of all vessels sailing from Northern Europe to Asia also fell by 1.3% between August and September, down to 607,000 teu, followed by another 1.4% in October, and a 1.1% in November (see Figure 5).
Eastbound North Europe to Asia Capacity (’000 teu)
Source: Drewry Maritime Research
But because cargo growth was greater, average vessel utilisation recovered from a weak 60% to a slightly better 63%. Although this appears to have been enough to temporarily stabilise spot freight rate levels, it didn’t last long, as shown in Figure 6. For more details, see ‘Pricing’.
Eastbound Asia-North Europe Utilisation v Rates
Sources: Drewry Maritime Research; World Container Ind
But not even bother reading and understanding the pig pic I posted
I will keep posting for real longs here
But not for dummies
If u don't like don't read