Capital Product Partners L.P. (NASDAQ:CPLP) has tumbled 2.96% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 12.17% in the last four weeks. The stocks have underperformed the S&P 500 by 1.8% during the past week but Capital Product Partners L.P. (NASDAQ:CPLP) it has outperformed the index in 4 weeks by 11.14%.
Capital Product Partners L.P. (NASDAQ:CPLP): The stock opened at $2.90 on Friday but the bulls could not build on the opening and the stock topped out at $3.09 for the day. The stock traded down to $2.90 during the day, due to lack of any buying support eventually closed down at $2.95 with a loss of -1.67% for the day. The stock had closed at $3.00 on the previous day. The total traded volume was 2,716,522 shares.
The company shares have dropped -64.59% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $8.59 and the one year low was seen on Apr 26, 2016. The 50-Day Moving Average price is $2.79 and the 200 Day Moving Average price is recorded at $3.68.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Standpoint Research maintains its rating on Capital Product Partners L.P. (NASDAQ:CPLP).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Standpoint Research lowers the new price target from $11 per share to $10 per share. The rating by the firm was issued on March 18, 2016. Institutional Investors own 28.67% of Capital Product Partners L.P. shares.
Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. As of December 31, 2014, the Companys fleet consisted of 30 vessels with 2.1 million deadweight tonnage (dwt) capacity, including four Suezmax crude oil tankers, 18 medium range (MR) tankers, all of which are classed as International Maritime Organization (IMO) II/III vessels, seven post-panamax container carrier vessels and one Capesize bulk carrier. Its vessels are capable of carrying a range of cargoes, including crude oil, refined oil products, such as gasoline, diesel, fuel oil and jet fuel, edible oils and certain chemicals, such as ethanol, as well as dry cargo and containerized goods. The Company provides marine transportation services under medium to long-term time charters or bareboat charters with various counterparties, such as Maersk Line, BP Shipping Limited, Overseas Shipholding Group Inc., Engen Petroleum Ltd., Repsol Trading S.A. and SUBTEC S.A. de C.V.