Gaslog (GLOG) was Downgraded to a Sell Rating at Cleaves Securities


Gaslog (GLOG) received a Sell rating and a $2.50 price target from Cleaves Securities analyst Joakim Hannisdahl yesterday. The company’s shares closed last Monday at $3.18, close to its 52-week low of $2.23.

According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 5.7% and a 60.1% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.

Currently, the analyst consensus on Gaslog is a Moderate Buy with an average price target of $3.90.

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Based on Gaslog’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $157 million and GAAP net loss of $354K. In comparison, last year the company earned revenue of $166 million and had a GAAP net loss of $13.55 million.

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GasLog Ltd. is engaged in the ownership, operation and management of vessels in the LNG market, providing maritime services for the transportation of LNG and LNG vessel management services. It operates its business through its subsidiary GasLog LNG Services Ltd., which provides vessel management services, including crewing, training, maintenance, regulatory and classification compliance and health, safety, security and environment. The company was founded on July 16, 2003 and is headquartered in Monaco.

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