Teekay (NYSE:TK) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Teekay Corporation Ltd. (NYSE:TK)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.57 and traded as high as $9.42. Teekay shares last traded at $9.2850, with a volume of 382,333 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a report on Monday, December 15th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Teekay Stock Performance

The stock has a market cap of $852.73 million, a price-to-earnings ratio of 6.59 and a beta of 0.14. The firm’s 50-day simple moving average is $9.42 and its two-hundred day simple moving average is $8.57.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Teekay by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after acquiring an additional 1,404 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Teekay by 3.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 38,003 shares of the shipping company’s stock worth $314,000 after purchasing an additional 1,411 shares during the last quarter. Bell & Brown Wealth Advisors LLC lifted its position in Teekay by 0.9% during the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 202,552 shares of the shipping company’s stock valued at $1,657,000 after purchasing an additional 1,899 shares during the period. Fisher Asset Management LLC lifted its position in Teekay by 3.8% during the 3rd quarter. Fisher Asset Management LLC now owns 52,500 shares of the shipping company’s stock valued at $429,000 after purchasing an additional 1,900 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Teekay by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 97,615 shares of the shipping company’s stock valued at $805,000 after purchasing an additional 2,129 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors.

About Teekay

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.