Norwegian Air Shuttle ASA (OTCMKTS:NWARF) Trading Down 8.2% – Here’s Why

Norwegian Air Shuttle ASA (OTCMKTS:NWARF) shares were down 8.2% on Tuesday . The company traded as low as $1.51 and last traded at $1.51. Approximately 4,810 shares traded hands during trading, an increase of 32% from the average daily volume of 3,643 shares. The stock had previously closed at $1.6450.

Analyst Upgrades and Downgrades

Separately, Danske downgraded Norwegian Air Shuttle ASA to a “hold” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Norwegian Air Shuttle ASA Trading Down 8.2%

The stock has a 50-day moving average price of $1.63 and a two-hundred day moving average price of $1.61.

Norwegian Air Shuttle ASA Company Profile

Norwegian Air Shuttle ASA (OTCMKTS:NWARF) is a low-cost airline headquartered near Oslo, Norway. Established in 1993 as an air taxi and charter operator, the company transitioned to a budget carrier model in the early 2000s. Today, Norwegian Air Shuttle is one of the largest airlines in the Nordic region, offering scheduled passenger services that compete on price and efficiency with legacy carriers across Europe.

The airline’s core business centers on short-haul and medium-haul flights, operating a homogeneous fleet of Boeing 737 aircraft designed to optimize turnaround times and minimize operating costs.