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

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s share price traded down 8.6% on Thursday . The company traded as low as $24.36 and last traded at $24.67. 5,501,082 shares were traded during mid-day 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

A number of analysts have recently weighed in on the company. Bank of America raised their price objective on Norwegian Cruise Line from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their price target on Norwegian Cruise Line from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Loop Capital began coverage on Norwegian Cruise Line in a research report on Tuesday, February 4th. They set a “hold” rating and a $26.00 price target for the company. StockNews.com raised Norwegian Cruise Line from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, UBS Group lifted their price target on Norwegian Cruise Line from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.06.

Norwegian Cruise Line Trading Down 6.2 %

The company has a debt-to-equity ratio of 10.35, a quick ratio of 0.17 and a current ratio of 0.20. The company has a 50 day moving average of $26.49 and a two-hundred day moving average of $23.60. The stock has a market cap of $10.59 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.24 and a beta of 2.64.

Hedge Funds Weigh In On Norwegian Cruise Line

Institutional investors and hedge funds have recently modified their holdings of the business. Hopwood Financial Services Inc. purchased a new position in shares of Norwegian Cruise Line in the 4th quarter valued at about $26,000. Kestra Investment Management LLC purchased a new stake in Norwegian Cruise Line during the 4th quarter worth approximately $27,000. Stonebridge Financial Group LLC purchased a new stake in Norwegian Cruise Line during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. increased its stake in Norwegian Cruise Line by 176.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,159 shares of the company’s stock worth $30,000 after buying an additional 739 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Norwegian Cruise Line during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

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.