In the company news, the shares of NewLead Holdings Ltd (NASDAQ:NEWL) plunged -9.80%, after opening at $0.26 and hovering between the range $0.21 – $0.26 the stock closed at $0.230. The stock price kept dropping alongside the dropping BDI index.
NewLead Holdings Ltd. (NewLead) is an international shipping company engaged in the transportation of refined products, such as gasoline and jet fuel, and dry bulk goods, such as iron ore, coal and grain. NewLead operates in two segments: wet operations, which consist of tankers transporting several different refined petroleum products simultaneously in segregated, coated cargo tanks, and dry operations, which consists of transportation and handling of bulk cargoes through ownership, operation and trading of vessels.
Golar LNG Limited (USA) (NASDAQ:GLNG) dipped -4.43% after the analysts at Jefferies Group downgraded the stock from “Buy” to “Hold” with a price target of $40 per share for the stock, in a report sent to investors on Monday. GLNG has a market capitalization of $3.58 billion and beta of 1.69.
GasLog Ltd (NYSE:GLOG) slumped -2.71% after the analysts at Jefferies Group downgraded the stock to “hold” from “underperform”. The firm said it lowered the company’s rating, which owns, operates and manages liquefied natural gas (LNG) carriers, due to weak outlooks for its near-term LNG shipping.
Nordic American Tanker Ltd (NYSE:NAT) gained 2.31% after been upgraded by investment analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a note issued to investors on Monday, Stock Ratings News reports. The firm currently has an $8.00 target price on the stock.
The shares of DryShips Inc. (NASDAQ:DRYS) ticked up 2.85% closing at $3.25. DryShips Inc. (DryShips) is a holding company engaged in the ocean transportation services of drybulk cargoes and crude oil worldwide through the ownership and operation of drybulk carrier vessels and oil tankers and offshore drilling services through the ownership and operation of ultra-deepwater drilling units.