Frontline Ltd. [FRO] Is Currently -1.59 below its 200 Period Moving Avg: What Does This Mean?

Frontline Ltd. [NYSE: FRO] loss -1.59% or -0.19 points to close at $11.73 with a heavy trading volume of 4132376 shares. 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.

It opened the trading session at $11.95, the shares rose to $12.045 and dropped to $11.54, the range by which the price of stock traded the whole day. The daily chart for FRO points out that the company has recorded 38.98% gains over the past six months. However, it is still -92.3% lower than its most recent low trading price.

If we look at the average trading volume of 3.20M shares, FRO reached to a volume of 4132376 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 0.65, with the Price to Sales ratio for FRO stock in the period of the last 12 months amounting to 3.14. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 1.18.

Trading performance analysis for FRO stock

Frontline Ltd. [FRO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.85. With this latest performance, FRO shares dropped by -1.35% in over the last four-week period, additionally plugging by 38.98% over the last 6 months – not to mention a rise of 32.09% 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 44.82, with the RSI for the last a single of trading hit 37.98, and the three-weeks RSI is set at 48.79 for Frontline Ltd. [FRO]. The present Moving Average for the last 50 days of trading for this stock 11.47, while it was recorded at 12.36 for the last single week of trading, and 9.12 for the last 200 days.

Frontline Ltd. [FRO]: A deeper dive into fundamental analysis

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

An analysis of insider ownership at Frontline Ltd. [FRO]

There are presently around $635 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 $74.54 million in FRO stocks shares; and VANGUARD GROUP INC, currently with $52.83 million in FRO stock with ownership of nearly 1.038% of the company’s market capitalization.

Positions in Frontline Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 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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