Ultrapetrol (Bahamas) Limited (NASDAQ:ULTR) reported a drop of 4.5% or 39,888 shares in its short interest. The short figure came in at 4% of the total floats. The average daily volume of 105,441 shares suggests that the days to cover 852,364 short positions, as on June 15,2016, will be 8. On May 31,2016, the short interest was 892,252 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Ultrapetrol (Bahamas) Limited (NASDAQ:ULTR): The stock opened at $0.37 on Friday but the bulls could not build on the opening and the stock topped out at $0.40 for the day. The stock traded down to $0.33 during the day, due to lack of any buying support eventually closed down at $0.33 with a loss of -19.12% for the day. The stock had closed at $0.41 on the previous day. The total traded volume was 2,056,532 shares.
The company shares have dropped -70.27% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $1.20 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $0.33 and the 200 Day Moving Average price is recorded at $0.23.
Ultrapetrol (Bahamas) Limited (NASDAQ:ULTR) has tumbled 10.14% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 18.01% in the last four weeks. The stocks have underperformed the S&P 500 by 8.64% during the past week but Ultrapetrol (Bahamas) Limited (NASDAQ:ULTR) it has outperformed the index in 4 weeks by 21.58%.
Ultrapetrol (Bahamas) Limited is an industrial shipping company serving the marine transportation markets. The Company serves the shipping markets for grain, forest products, minerals, crude oil, petroleum and refined petroleum products, as well as the offshore oil platform supply market through its operations in the following three segments of the marine transportation industry: River Business, which operates barges and pushboats; Offshore Supply Business, which owns and operates vessels that provide critical logistical and transportation services for offshore petroleum exploration and production companies, and Ocean Business, which operates ocean-going vessels. The Companys customers include affiliates of Bunge, ESSO, MMX, Nexen Petroleum (UK) Ltd., Petrobras, Petropar, Siderar, Trafigura and Vicentin. It had 687 (of which 24 are under lease) barges with approximately 1.3 million deadweight tonnage (DWT) capacity and 33 pushboats as of December 31, 2014.