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 report issued on Wednesday.

NAT has been the subject of several other research reports. Evercore ISI dropped their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th. Jefferies Financial Group reissued a “hold” rating and issued a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th.

Nordic American Tankers Trading Up 1.0 %

NYSE NAT traded up $0.04 on Wednesday, hitting $3.71. The company’s stock had a trading volume of 1,684,026 shares, compared to its average volume of 2,525,535. Nordic American Tankers has a 52-week low of $3.31 and a 52-week high of $4.83. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The company’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $3.85. The firm has a market cap of $773.59 million, a P/E ratio of 11.58 and a beta of -0.19.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The business had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. During the same quarter last year, the business posted $0.13 EPS. Research analysts predict that Nordic American Tankers will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Nordic American Tankers by 36,804.9% during the first quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock valued at $2,432,000 after purchasing an additional 618,690 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $31,610,000 after acquiring an additional 221,478 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Nordic American Tankers during the 1st quarter valued at about $2,443,000. Dimensional Fund Advisors LP boosted 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 valued at $46,195,000 after acquiring an additional 621,588 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Nordic American Tankers by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after acquiring an additional 275,707 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

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.