Wall Street Zen Upgrades Nordic American Tankers (NYSE:NAT) to “Strong-Buy”

Nordic American Tankers (NYSE:NAT) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Separately, Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target on the stock. in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nordic American Tankers presently has a consensus rating of “Reduce” and an average target price of $4.00.

Nordic American Tankers Stock Performance

NAT opened at $6.05 on Friday. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $5.67 and its 200-day moving average is $5.23. The stock has a market cap of $1.28 billion, a PE ratio of 22.40 and a beta of -0.57. Nordic American Tankers has a twelve month low of $2.67 and a twelve month high of $6.70.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $77.51 million for the quarter, compared to analysts’ expectations of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. On average, analysts predict that Nordic American Tankers will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently bought and sold shares of the business. SmartHarvest Portfolios LLC raised its stake in Nordic American Tankers by 18.0% during the 1st quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 2,087 shares during the period. ProShare Advisors LLC boosted its position in shares of Nordic American Tankers by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company’s stock worth $129,000 after buying an additional 2,416 shares during the period. Cerity Partners LLC boosted its position in shares of Nordic American Tankers by 4.7% in the fourth quarter. Cerity Partners LLC now owns 54,470 shares of the shipping company’s stock worth $187,000 after buying an additional 2,449 shares during the period. Signaturefd LLC grew its holdings in shares of Nordic American Tankers by 9.5% during the fourth quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock valued at $123,000 after buying an additional 3,120 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Nordic American Tankers by 8.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,606 shares of the shipping company’s stock valued at $153,000 after buying an additional 3,433 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.