Norwegian Cruise Line (NYSE:NCLH) Downgraded to Strong Sell Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Norwegian Cruise Line (NYSE:NCLH) from a strong-buy rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Norwegian Cruise Line from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Truist Financial decreased their price target on Norwegian Cruise Line from $31.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Zacks Research cut Norwegian Cruise Line from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Norwegian Cruise Line in a research note on Thursday, January 22nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Norwegian Cruise Line in a research note on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.32.

Norwegian Cruise Line Price Performance

Shares of NYSE NCLH opened at $23.45 on Monday. The stock has a market cap of $10.68 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.64 and a beta of 2.06. The firm’s 50-day simple moving average is $22.67 and its 200 day simple moving average is $22.57. Norwegian Cruise Line has a fifty-two week low of $14.21 and a fifty-two week high of $27.18. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 6.22.

Hedge Funds Weigh In On Norwegian Cruise Line

A number of hedge funds and other institutional investors have recently modified their holdings of NCLH. MUFG Securities EMEA plc acquired a new stake in Norwegian Cruise Line during the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Norwegian Cruise Line in the fourth quarter worth approximately $31,000. Clearstead Advisors LLC raised its holdings in shares of Norwegian Cruise Line by 130.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,607 shares of the company’s stock valued at $36,000 after acquiring an additional 909 shares during the period. Laurel Wealth Advisors LLC raised its holdings in shares of Norwegian Cruise Line by 1,928.0% during the second quarter. Laurel Wealth Advisors LLC now owns 2,028 shares of the company’s stock valued at $41,000 after acquiring an additional 1,928 shares during the period. Finally, Aventura Private Wealth LLC purchased a new stake in shares of Norwegian Cruise Line in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a global cruise operator offering a portfolio of premium brands that includes Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The company provides sea voyages and related onboard services such as dining, entertainment, shore excursions and destination experiences. Its fleet of modern vessels sails to more than 400 destinations across all seven continents, serving leisure travelers with itineraries ranging from short Caribbean getaways to extended world voyages.

Founded in 1966 by Knut Kloster and Ted Arison, the company pioneered the concept of “Freestyle Cruising,” which allows passengers greater flexibility in dining schedules, entertainment choices and onboard activities.