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

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

A number of other analysts also recently issued reports on NAT. Evercore ISI dropped their target price 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 set a $4.00 price target on shares of Nordic American Tankers in a research report on Thursday, September 12th.

Nordic American Tankers Trading Up 2.6 %

NYSE:NAT opened at $3.81 on Wednesday. Nordic American Tankers has a 52-week low of $3.31 and a 52-week high of $4.83. 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 stock has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $3.85. The company has a market capitalization of $794.47 million, a PE ratio of 11.89 and a beta of -0.19.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (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 in the prior year, the business earned $0.13 earnings per share. On average, equities research analysts expect that Nordic American Tankers will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordic American Tankers

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in Nordic American Tankers by 36,804.9% in the first quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock worth $2,432,000 after purchasing an additional 618,690 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Nordic American Tankers by 3.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock worth $31,610,000 after purchasing an additional 221,478 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Nordic American Tankers during the first quarter worth approximately $2,443,000. Dimensional Fund Advisors LP grew its position in Nordic American Tankers by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after purchasing an additional 621,588 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake 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. 44.29% of the stock is currently owned by 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.