Nordic American Tankers (NYSE:NAT) Rating Lowered to Buy at Wall Street Zen

Nordic American Tankers (NYSE:NAT) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Separately, Evercore lowered shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price on the stock. in a research note 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, the company currently has a consensus rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Trading Up 0.2%

NYSE:NAT opened at $6.46 on Friday. The firm has a market cap of $1.37 billion, a PE ratio of 23.94 and a beta of -0.57. The stock has a fifty day moving average price of $5.76 and a 200 day moving average price of $5.35. Nordic American Tankers has a 12-month low of $2.72 and a 12-month high of $6.70. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $77.51 million for the quarter, compared to the consensus estimate of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. Sell-side analysts anticipate that Nordic American Tankers will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Nordic American Tankers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Nordic American Tankers by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock worth $71,430,000 after acquiring an additional 460,555 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Nordic American Tankers by 7.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,124,150 shares of the shipping company’s stock worth $16,090,000 after acquiring an additional 369,462 shares in the last quarter. CenterBook Partners LP lifted its stake in Nordic American Tankers by 110.1% during the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock worth $12,729,000 after purchasing an additional 1,939,211 shares during the last quarter. Millennium Management LLC lifted its stake in Nordic American Tankers by 108.3% during the third quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock worth $7,628,000 after purchasing an additional 1,263,228 shares during the last quarter. Finally, UBS Group AG lifted its stake in Nordic American Tankers by 83.9% during the third quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock worth $7,152,000 after purchasing an additional 1,039,353 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

About Nordic American Tankers

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.