Box Ships Downgraded to “Underweight” at Morgan Stanley (TEU)
Box Ships (NYSE:TEU) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Monday, StockRatingsNetwork reports. They currently have a $2.50 price target on the stock. Morgan Stanley’s price objective would suggest a potential downside of 14.09% from the company’s current price.
Shares of Box Ships (NYSE:TEU) traded down 4.90% on Monday, hitting $2.91. 595,211 shares of the company’s stock traded hands. Box Ships has a 52-week low of $2.80 and a 52-week high of $6.25. The stock has a 50-day moving average of $3.08 and a 200-day moving average of $3.72. The company has a market cap of $72.6 million and a P/E ratio of 6.54.
Box Ships Inc is an international shipping company specializing in the transportation of containers. The Company was formed by Paragon Shipping Inc, a global provider of shipping transportation services specializing in transporting dry bulk cargoes.
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