Knightsbridge Tankers Stock Gaps Up On Today's Open (VLCCF)

NEW YORK ( TheStreet) -- Shares of Knightsbridge Tankers (Nasdaq: VLCCF) were gapping up Wednesday morning with an open price 10.1% higher than Tuesday's closing price. The stock closed at $23.38 Tuesday and opened today's trading at $25.73.

The average volume for Knightsbridge Tankers has been 284,900 shares per day over the past 30 days. Knightsbridge Tankers has a market cap of $443.5 million and is part of the services sector and transportation industry. Shares are up 5% year to date as of the close of trading on Tuesday.

Knightsbridge Tankers Limited, through its subsidiaries, engages in the seaborne transportation of crude oil and dry bulk cargoes worldwide. As of December 31, 2009, the company's fleet consisted of four double-hull very large crude oil carriers and two capesize dry bulk carriers. The company has a P/E ratio of 18.8, above the average transportation industry P/E ratio of 11.8 and above the S&P 500 P/E ratio of 16.

TheStreet Ratings rates Knightsbridge Tankers as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Knightsbridge Tankers Ratings Report.

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