Tsakos Energy Navigation (TNP) Is Weak On High Volume Today

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Tsakos Energy Navigation ( TNP) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Tsakos Energy Navigation as such a stock due to the following factors:

  • TNP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $6.0 million.
  • TNP has traded 122,962 shares today.
  • TNP is trading at 2.76 times the normal volume for the stock at this time of day.
  • TNP is trading at a new low 4.00% below yesterday's close.

'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize (or avoid losses by trimming weak positions). In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

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More details on TNP:

Tsakos Energy Navigation Limited provides international seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services to national, major, and other independent oil companies and refiners under long, medium, and short-term charters. The stock currently has a dividend yield of 2.2%. TNP has a PE ratio of 19. Currently there are 8 analysts that rate Tsakos Energy Navigation a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Tsakos Energy Navigation has been 647,400 shares per day over the past 30 days. Tsakos Energy Navigation has a market cap of $874.2 million and is part of the services sector and transportation industry. The stock has a beta of 1.35 and a short float of 0.5% with 0.50 days to cover. Shares are up 47.9% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Tsakos Energy Navigation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:
  • The revenue growth greatly exceeded the industry average of 38.7%. Since the same quarter one year prior, revenues rose by 14.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 121.05% and other important driving factors, this stock has surged by 36.36% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, TNP should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • TSAKOS ENERGY NAVIGATION LTD reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, TSAKOS ENERGY NAVIGATION LTD turned its bottom line around by earning $0.35 versus -$0.72 in the prior year. This year, the market expects an improvement in earnings ($1.22 versus $0.35).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 155.9% when compared to the same quarter one year prior, rising from $14.57 million to $37.28 million.

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