Norwegian Cruise Line (NYSE:NCLH) Shares Gap Up – Here’s What Happened

Shares of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) gapped up before the market opened on Monday . The stock had previously closed at $19.19, but opened at $20.05. Norwegian Cruise Line shares last traded at $19.66, with a volume of 3,395,794 shares.

Analyst Ratings Changes

NCLH has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on Norwegian Cruise Line from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Bank of America decreased 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 research report on Friday, March 7th. Truist Financial boosted their target price on shares of Norwegian Cruise Line from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Barclays upgraded shares of Norwegian Cruise Line from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $28.00 to $32.00 in a research note on Friday, December 13th. Finally, Citigroup upped their target price on Norwegian Cruise Line from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

Norwegian Cruise Line Price Performance

The firm has a market cap of $8.76 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 0.24 and a beta of 2.62. The company has a 50 day moving average price of $25.08 and a 200 day moving average price of $24.24. 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 Trading of Norwegian Cruise Line

Several large investors have recently modified their holdings of the business. Capital International Investors increased its position in Norwegian Cruise Line by 11.2% during the fourth quarter. Capital International Investors now owns 55,194,672 shares of the company’s stock worth $1,420,159,000 after purchasing an additional 5,557,951 shares during the last quarter. Norges Bank purchased a new position in Norwegian Cruise Line in the 4th quarter worth approximately $113,156,000. Two Sigma Advisers LP boosted its position in Norwegian Cruise Line by 99.0% in the 4th quarter. Two Sigma Advisers LP now owns 7,689,200 shares of the company’s stock valued at $197,843,000 after buying an additional 3,824,600 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Norwegian Cruise Line by 3,403.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,374,576 shares of the company’s stock worth $86,828,000 after acquiring an additional 3,278,249 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Norwegian Cruise Line by 113.1% in the fourth quarter. Renaissance Technologies LLC now owns 5,577,231 shares of the company’s stock worth $143,502,000 after acquiring an additional 2,959,631 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.

Norwegian Cruise Line Company Profile

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.