Stock Alert: Shares Of Teekay Tankers Ltd. (TNK) Hit 52-Week High

(RTTNews) - Shares of Teekay Tankers Ltd. (TNK), marine transportation services provider, touched a 52-week high of $24.27 on December 19, and closed Thursday's trading session at $24.21, up $1.59 or 7.03%. The stock has recovered nicely from multi-year lows and moved up more than 20% in the last month.

In mid-November, the company reported Q3 net loss of $198.2 million or $1.97 per share versus $12.0 million or $0.12 per share last year.

Adjusted net loss was $24.1 million or $0.24 per share, wider than the previous year's loss of $11.4 million or $0.11 per share incurred a year ago.

Revenues for the quarter increased to $420.7 million from $416.6 million generated in the same period of last year.

On Nov. 25, the company said it has effected its previously-announced one-for-eight reverse stock split of the company's Class A common shares, par value $0.01 per share, and Class B common shares, par value $0.01 per share (the Reverse Stock Split). The company's Class A common shares began trading on a split-adjusted basis on the NYSE, as of the opening of trading on November 25, 2019. Class A common shares of the company continue to trade on the NYSE under the symbol "TNK" but have been assigned a new CUSIP number, Y8565N 300.