Ultrapetrol (Bahamas) Ltd. (ULTR): Soaring High in the Stock Market
Ultrapetrol, based in Bahamas, is one of the public companies doing well in the stock market. From the perspective of wall-street.com, it is believed that such company is doing relatively well in the market, especially relative to the performance of the industry in general. For instance, as of the time of writing, the stock value increased by 17.30%, while, the industry average was down by at least .49%. This is an indication of favorable stock gains, in spite of the fact that the shipping industry as a whole has suffered from a minimal decline. However, as it will be further discussed, the market performance is still in a limbo. https://wall-street.com/stockquote/?symbol=ultr
About the Company
Ultrapetrol (Bahamas) Limited, https://www.bahamas.com/ an industrial shipping company, provides marine transportation services in South America, Europe, Central America, North America, and Asia. The company operates in three segments: River Business, Offshore Supply Business, and Ocean Business. The River Business segment owns and operates dry and tanker barges, and push boats in the Hidrovia region of South America. Its dry barges transport agricultural and forestry products, iron ore, and other cargoes; and tanker barges carry petroleum products, vegetable oils, and other liquids. As of December 31, 2015, this segment had 681 barges with approximately 1.3 million dwt capacity; and 34 push boats. The Offshore Supply Business segment owns and operates vessels that provide logistical and transportation services for offshore petroleum exploration and production companies. It transports supplies, such as containerized equipment, drill casings, pipes, and heavy loads; fuel, water, drilling fluids, and bulk cement; and various other supplies to drilling rigs and platforms. This segments fleet consisted of 13 platform supply vessels and 1 remotely operated vehicle. The Ocean Business segment owns and operates oceangoing vessels, which transports petroleum products, as well as a container line service in the Argentine cabotage trade. The company serves petroleum, agricultural, and mining companies. Ultrapetrol (Bahamas) Limited was founded in 1992 and is headquartered in Nassau, the Bahamas.Ultrapetrol is an industrial transportation company with global clients who are in search of high-quality marine transportation. As a diversified company, Ultrapetrol operates in three different markets: Offshore Supply Business, River Business, and Ocean Business. The company also enjoys a diverse customer base all over the world, which includes petroleum, mining, and agricultural businesses, among others. Ultrapetrol is listed in the NASDAQ Stock Exchange.
Market Performance of Ultrapetrol
In the first quarter of 2016, the company has recorded a revenue of $67.1 million. In the same period last year, the company recorded a higher sales amounting to $84.6 million. According to Damian Scokin, the President and Chief Executive Officer of the Company, “our financial results continued to reflect the impact of historically weak commodity markets, despite the meaningful operational improvements that we have continued to realize as a result of our strategic initiatives.” In spite of the seemingly dismal performance, however, it has been emphasized that they remain focused in their cost reduction and streamlining efforts to improve their NASDAQ revenues. Based on the records of NASDAQ, the last net sales of the company amounted to $347.48 million, which is reflective of an increase of 3.36%.
Taking a look at the historical performance of the company’s stocks, it was in the last week of April wherein it has been recorded that there was an unusual increase in trading volume. In April 28, the company has registered a total of 900,110 shares, which was higher than the average 641,230. More so, the average trading volume over the course of three months is 649,814. In the course of 52 weeks, the value of stocks ranged from $.05 to $1.30 per share.
In an industry that is struggling, Ultrapetrol is doing its best to have an increase in market demand, which is anticipated to lead into an increase in the value of their stocks. The shipping industry may be suffering from a dismal market performance, but as the management asserts, the company is doing its best to gain momentum and to exhibit profitable performance in the months to come.