Could Teekay Corporation (NYSE:TK) See a Reversal After Less Sellers Came In?

July 14, 2018 - By Darrell Taylor

Teekay Corporation (NYSE:TK) Logo

The stock of Teekay Corporation (NYSE:TK) registered a decrease of 4.22% in short interest. TK’s total short interest was 11.33M shares in July as published by FINRA. Its down 4.22% from 11.83M shares, reported previously. With 589,200 shares average volume, it will take short sellers 19 days to cover their TK’s short positions. The short interest to Teekay Corporation’s float is 21.15%.

The stock decreased 0.67% or $0.05 during the last trading session, reaching $7.46. About 903,727 shares traded or 25.47% up from the average. Teekay Corporation (NYSE:TK) has risen 23.06% since July 14, 2017 and is uptrending. It has outperformed by 10.49% the S&P500.

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. The company has market cap of $749.24 million. It operates shuttle tankers, floating storage and offloading units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects. It currently has negative earnings. The firm also operates floating production, storage, and offloading (FPSO) units, as well as other vessels used to service its FPSO contracts; liquefied natural gas (LNG) and liquefied petroleum gas carriers; and conventional crude oil and product tankers.

More news for Teekay Corporation (NYSE:TK) were recently published by: Seekingalpha.com, which released: “Marine Money Week Day 3 Preview” on June 20, 2018. Seekingalpha.com‘s article titled: “Teekay Offshore says Brookfield acquires controlling interest in GP” and published on July 03, 2018 is yet another important article.

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