Norwegian Cruise Line (NYSE:NCLH) Stock Price Down 5.5% – Here’s What Happened

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s stock price traded down 5.5% during trading on Tuesday . The company traded as low as $18.92 and last traded at $18.94. 6,270,806 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 11,997,531 shares. The stock had previously closed at $20.04.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Norwegian Cruise Line from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Citigroup increased their price target on shares of Norwegian Cruise Line from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Truist Financial increased their price target on shares of Norwegian Cruise Line from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. raised shares of Norwegian Cruise Line from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Monday. Finally, Loop Capital started coverage on shares of Norwegian Cruise Line in a research report on Tuesday, February 4th. They set a “hold” rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.19.

Norwegian Cruise Line Trading Down 4.1 %

The business’s 50-day moving average price is $24.97 and its two-hundred day moving average price is $24.25. The company has a debt-to-equity ratio of 10.35, a current ratio of 0.20 and a quick ratio of 0.17. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 0.24 and a beta of 2.62.

Institutional Investors Weigh In On Norwegian Cruise Line

Institutional investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC purchased a new stake in Norwegian Cruise Line in the fourth quarter valued at approximately $272,000. Cookson Peirce & Co. Inc. purchased a new stake in Norwegian Cruise Line in the fourth quarter valued at approximately $654,000. Zacks Investment Management purchased a new stake in Norwegian Cruise Line in the third quarter valued at approximately $3,821,000. Hodges Capital Management Inc. grew its holdings in Norwegian Cruise Line by 1.5% in the third quarter. Hodges Capital Management Inc. now owns 1,544,515 shares of the company’s stock valued at $31,678,000 after purchasing an additional 23,075 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Norwegian Cruise Line by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,500,309 shares of the company’s stock valued at $71,791,000 after purchasing an additional 94,178 shares during the period. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean.