Shares of Double Hull Tankers Inc., shipper
of crude oil, fell on Monday after a Citigroup analyst said the stock was overvalued, the Associated Press reported.
Double Hull Tankers fell 47 cents, or 3.2 percent, to $14.36 in midday trading on the New York Stock Exchange. Earlier in the session, shares dipped as low as $14.11. The stock has traded in a range of $10.50 and $15.49 since going public in October.
Last week, the company reported second quarter earnings
of $6.7 million, or 22 cents per share
, which matched the forecast of analysts polled by Thomson Financial. (Source: AP)