Nordic American Tankers (NYSE:NAT) Raised 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 report issued on Monday.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 29th. Evercore ISI dropped their price objective 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.

Nordic American Tankers Trading Up 5.3 %

NAT stock opened at $2.78 on Monday. Nordic American Tankers has a 52 week low of $2.60 and a 52 week high of $4.64. The company has a market cap of $580.45 million, a price-to-earnings ratio of 9.59 and a beta of -0.26. 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 business has a fifty day simple moving average of $3.33 and a 200-day simple moving average of $3.64.

Hedge Funds Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of 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 worth $46,195,000 after purchasing an additional 621,588 shares in the last quarter. Two Sigma Advisers LP increased its stake in Nordic American Tankers by 67.6% during the 3rd quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after buying an additional 1,521,900 shares during the period. American Century Companies Inc. increased its stake 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 during the period. Vanguard Group Inc. lifted its holdings 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 worth $6,595,000 after buying an additional 275,707 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Nordic American Tankers by 122.8% in the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after buying an additional 711,973 shares during the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

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.