Nordic American Tankers (NYSE:NAT) Rating Increased to Hold at StockNews.com

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

NAT has been the topic of a number of other reports. Evercore ISI dropped their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a report on Friday.

Nordic American Tankers Stock Down 1.3 %

Shares of NAT traded down $0.04 during trading hours on Monday, hitting $2.65. The company had a trading volume of 5,351,770 shares, compared to its average volume of 2,530,914. The stock has a market capitalization of $552.28 million, a price-to-earnings ratio of 9.12 and a beta of -0.21. The firm has a fifty day moving average price of $3.35 and a 200-day moving average price of $3.66. Nordic American Tankers has a 52-week low of $2.60 and a 52-week high of $4.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $66.10 million for the quarter, compared to the consensus estimate of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period last year, the business posted $0.13 EPS. On average, equities research analysts forecast that Nordic American Tankers will post 0.28 EPS for the current fiscal year.

Institutional Trading of Nordic American Tankers

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake 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. Two Sigma Advisers LP grew its stake in Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after purchasing an additional 1,521,900 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Nordic American Tankers by 40.5% during the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after buying an additional 1,009,096 shares during the period. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 275,707 shares in the last quarter. Finally, Millennium Management LLC raised its stake in 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 buying an additional 711,973 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors.

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.