StockNews.com Upgrades Nordic American Tankers (NYSE:NAT) to Hold

Nordic American Tankers (NYSE:NAT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research firms have also commented on NAT. Evercore ISI decreased their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $4.00 price target on shares of Nordic American Tankers in a report on Thursday, September 12th.

Nordic American Tankers Trading Up 2.6 %

NAT stock opened at $3.81 on Wednesday. Nordic American Tankers has a twelve month low of $3.31 and a twelve month high of $4.83. The stock has a market capitalization of $794.47 million, a price-to-earnings ratio of 11.89 and a beta of -0.19. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $3.63 and its two-hundred day simple moving average is $3.85.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The company had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. During the same period in the prior year, the business earned $0.13 EPS. As a group, analysts anticipate that Nordic American Tankers will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of Nordic American Tankers by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after purchasing an additional 621,588 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Nordic American Tankers by 3.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock worth $31,610,000 after buying an additional 221,478 shares in the last quarter. American Century Companies Inc. lifted its holdings in Nordic American Tankers by 40.5% during the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after buying an additional 1,009,096 shares in the last quarter. Vanguard Group Inc. boosted its position in Nordic American Tankers by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after buying an additional 275,707 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Nordic American Tankers by 122.8% in the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after acquiring an additional 711,973 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.