Wall Street Zen Upgrades Nordic American Tankers (NYSE:NAT) to Hold

Nordic American Tankers (NYSE:NAT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Jefferies Financial Group reissued a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Thursday, May 29th.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock opened at $2.70 on Friday. The firm has a market capitalization of $570.67 million, a P/E ratio of 12.25 and a beta of -0.19. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $2.69 and a 200 day moving average price of $2.61. Nordic American Tankers has a 52 week low of $2.13 and a 52 week high of $3.95.

Hedge Funds Weigh In On Nordic American Tankers

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Nordic American Tankers during the 4th quarter worth approximately $1,202,000. Commonwealth Equity Services LLC raised its position in Nordic American Tankers by 33.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 438,641 shares of the shipping company’s stock worth $1,097,000 after buying an additional 109,093 shares during the last quarter. Renaissance Technologies LLC raised its position in Nordic American Tankers by 68.8% during the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock worth $2,445,000 after buying an additional 398,700 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Nordic American Tankers by 834.7% during the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock valued at $1,363,000 after purchasing an additional 486,710 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Nordic American Tankers during the 4th quarter valued at approximately $2,072,000. 44.29% of the stock is owned by hedge funds and other institutional investors.

About Nordic American Tankers

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.