Seaspan Stock Falls On Unusually High Volume (SSW)

NEW YORK ( TheStreet) -- Seaspan Corporation (NYSE: SSW) is trading at unusually high volume Thursday with 1.4 million shares changing hands. It is currently at four times its average daily volume and trading down $1.39 (-6.7%) at $19.49 as of 1:16 p.m. ET.

Seaspan has a market cap of $1.4 billion and is part of the services sector and transportation industry. Shares are up 68.1% year to date as of the close of trading on Wednesday.

Seaspan Corporation owns and operates the containerships that are engaged in the deep-sea container transportation business in Hong Kong. The company charters its containerships pursuant to long-term, fixed-rate time charters to various container liner companies.

TheStreet Ratings rates Seaspan as hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and disappointing return on equity. You can view the full Seaspan Ratings Report.

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