Frontline Ltd. [FRO] Revenue clocked in at $903.30 million, up 83.73% YTD: What’s Next?

Frontline Ltd. [NYSE: FRO] jumped around 1.07 points on Tuesday, while shares priced at $12.99 at the close of the session, up 8.98%. The company report on September 2, 2022 that FRO – Notice of Annual General Meeting 2022.


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Frontline Ltd. announces that its 2022 Annual General Meeting will be held on September 30, 2022. A copy of the Notice of Annual General Meeting and associated information including the Company’s Annual Report on Form 20-F for 2021 can be found on our website at www.frontline.bm and attached to this press release.

Frontline Ltd. stock is now 83.73% up from its year-to-date (YTD) trading value. FRO Stock saw the intraday high of $13.04 and lowest of $12.05 per share. The company’s 52-week high price is 12.57, which means current price is +112.95% above from all time high which was touched on 09/06/22.

Compared to the average trading volume of 2.87M shares, FRO reached a trading volume of 9036525 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Frontline Ltd. [FRO]?

Jefferies have made an estimate for Frontline Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 06, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on July 21, 2022, representing the official price target for Frontline Ltd. stock. Previously, the target price had yet another raise to $9, while Jefferies analysts kept a Hold rating on FRO stock.

The Average True Range (ATR) for Frontline Ltd. is set at 0.54, with the Price to Sales ratio for FRO stock in the period of the last 12 months amounting to 3.20. The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 1.28.

How has FRO stock performed recently?

Frontline Ltd. [FRO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.51. With this latest performance, FRO shares gained by 23.83% in over the last four-week period, additionally plugging by 25.75% over the last 6 months – not to mention a rise of 69.36% 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 69.03, with the RSI for the last a single of trading hit 71.44, and the three-weeks RSI is set at 66.90 for Frontline Ltd. [FRO]. The present Moving Average for the last 50 days of trading for this stock 10.28, while it was recorded at 12.05 for the last single week of trading, and 8.69 for the last 200 days.

Frontline Ltd. [FRO]: Deeper insight into the fundamentals

Frontline Ltd.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.10.

Insider trade positions for Frontline Ltd. [FRO]

There are presently around $703 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 10,740,390, which is approximately 10513.034% of the company’s market cap and around 33.80% of the total institutional ownership; BLACKROCK INC., holding 6,354,676 shares of the stock with an approximate value of $82.55 million in FRO stocks shares; and VANGUARD GROUP INC, currently with $58.5 million in FRO stock with ownership of nearly 1.038% of the company’s market capitalization.

84 institutional holders increased their position in Frontline Ltd. [NYSE:FRO] by around 24,237,132 shares. Additionally, 60 investors decreased positions by around 5,838,086 shares, while 22 investors held positions by with 24,053,250 shares. The mentioned changes placed institutional holdings at 54,128,468 shares, according to the latest SEC report filing. FRO stock had 41 new institutional investments in for a total of 4,685,547 shares, while 19 institutional investors sold positions of 1,872,025 shares during the same period.

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