Norwegian Cruise Line (NYSE:NCLH) Stock Price Down 5.5% – Here’s What Happened

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) shares fell 5.5% on Tuesday . The stock traded as low as $18.92 and last traded at $18.94. 6,270,806 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 11,997,531 shares. The stock had previously closed at $20.04.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NCLH. Truist Financial lifted their price objective on shares of Norwegian Cruise Line from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Bank of America cut their price objective on shares of Norwegian Cruise Line from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Citigroup lifted their price objective on shares of Norwegian Cruise Line from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised shares of Norwegian Cruise Line from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Monday. Finally, The Goldman Sachs Group set a $34.00 price objective on shares of Norwegian Cruise Line in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.19.

Norwegian Cruise Line Price Performance

The company has a fifty day moving average of $24.97 and a 200-day moving average of $24.25. The stock has a market cap of $8.46 billion, a PE ratio of 17.67, a P/E/G ratio of 0.24 and a beta of 2.62. The company has a current ratio of 0.20, a quick ratio of 0.17 and a debt-to-equity ratio of 10.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NCLH. Prestige Wealth Management Group LLC boosted its holdings in Norwegian Cruise Line by 192.3% in the third quarter. Prestige Wealth Management Group LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 800 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Norwegian Cruise Line in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Norwegian Cruise Line in the 4th quarter valued at about $27,000. Kestra Investment Management LLC acquired a new stake in shares of Norwegian Cruise Line in the 4th quarter valued at about $27,000. Finally, Rakuten Securities Inc. grew its position in shares of Norwegian Cruise Line by 176.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,159 shares of the company’s stock worth $30,000 after acquiring an additional 739 shares during the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

About Norwegian Cruise Line

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean.