Norwegian Cruise Line (NYSE:NCLH) Shares Down 8.6% – Here’s What Happened

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s share price traded down 8.6% during mid-day trading on Thursday . The stock traded as low as $24.36 and last traded at $24.67. 5,501,082 shares traded hands during trading, a decline of 32% from the average session volume of 8,116,748 shares. The stock had previously closed at $27.00.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Argus upgraded shares of Norwegian Cruise Line from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Macquarie reaffirmed an “outperform” rating and set a $30.00 target price on shares of Norwegian Cruise Line in a research note on Friday, January 17th. Truist Financial increased their target price on shares of Norwegian Cruise Line from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Tigress Financial increased their target price on shares of Norwegian Cruise Line from $32.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of Norwegian Cruise Line from $19.00 to $26.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.06.

Norwegian Cruise Line Trading Down 7.0 %

The company’s fifty day moving average is $26.57 and its two-hundred day moving average is $23.53. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 0.25 and a beta of 2.64. The company has a quick ratio of 0.17, a current ratio of 0.20 and a debt-to-equity ratio of 10.35.

Institutional Trading of Norwegian Cruise Line

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. acquired a new stake in Norwegian Cruise Line during the fourth quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new stake in Norwegian Cruise Line during the fourth quarter worth approximately $27,000. Stonebridge Financial Group LLC acquired a new stake in Norwegian Cruise Line during the fourth quarter worth approximately $27,000. Rakuten Securities Inc. raised its holdings in Norwegian Cruise Line by 176.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,159 shares of the company’s stock worth $30,000 after purchasing an additional 739 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Norwegian Cruise Line during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

About Norwegian Cruise Line

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.