Frontline Ltd. [FRO] gain 24.92% so far this year. What now?



Frontline Ltd. [NYSE: FRO] closed the trading session at $7.77 on 09/02/21. The day’s price range saw the stock hit a low of $7.665, while the highest price level was $7.93. The company report on August 26, 2021 that FRO – Q2 2021 Presentation.

Please find enclosed the presentation of Frontline Ltd.’s second quarter 2021 results to be held on the webcast / conference call 26 August, 2021 at 15:00 CET.

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This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

The stocks have a year to date performance of 24.92 percent and weekly performance of 2.10 percent. The stock has been moved at 9.75 percent over the last six months. The stock has performed 2.37 percent around the most recent 30 days and changed -7.28 percent over the most recent 3-months.

If compared to the average trading volume of 1.19M shares, FRO reached to a volume of 1945137 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Frontline Ltd. [FRO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FRO shares is $8.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FRO stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Frontline Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 25, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Neutral. The new note on the price target was released on March 29, 2021, representing the official price target for Frontline Ltd. stock. Previously, the target price had yet another raise to $8, while Jefferies analysts kept a Hold rating on FRO stock. On February 19, 2021, analysts increased their price target for FRO shares from 5.50 to 7.

The Average True Range (ATR) for Frontline Ltd. is set at 0.27, with the Price to Sales ratio for FRO stock in the period of the last 12 months amounting to 1.59. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 0.70.

FRO stock trade performance evaluation

Frontline Ltd. [FRO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.10. With this latest performance, FRO shares gained by 2.37% in over the last four-week period, additionally plugging by 9.75% over the last 6 months – not to mention a rise of 3.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FRO stock in for the last two-week period is set at 54.42, with the RSI for the last a single of trading hit 60.64, and the three-weeks RSI is set at 51.17 for Frontline Ltd. [FRO]. The present Moving Average for the last 50 days of trading for this stock 7.94, while it was recorded at 7.45 for the last single week of trading, and 7.42 for the last 200 days.

Frontline Ltd. [FRO]: An insightful look at the core fundamentals

Frontline Ltd.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.80.

Frontline Ltd. [FRO]: Insider Ownership positions

There are presently around $331 million, or 21.10% of FRO stock, in the hands of institutional investors. The top three institutional holders of FRO stocks are: FOLKETRYGDFONDET with ownership of 9,818,351, which is approximately 0% of the company’s market cap and around 33.80% of the total institutional ownership; BLACKROCK INC., holding 6,501,925 shares of the stock with an approximate value of $50.52 million in FRO stocks shares; and VANGUARD GROUP INC, currently with $26.2 million in FRO stock with ownership of nearly 4.17% of the company’s market capitalization.

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67 institutional holders increased their position in Frontline Ltd. [NYSE:FRO] by around 7,156,067 shares. Additionally, 66 investors decreased positions by around 3,875,844 shares, while 20 investors held positions by with 31,588,503 shares. The mentioned changes placed institutional holdings at 42,620,414 shares, according to the latest SEC report filing. FRO stock had 32 new institutional investments in for a total of 1,838,016 shares, while 18 institutional investors sold positions of 980,725 shares during the same period.



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