Nordic American Tankers (NYSE:NAT) Stock Rating Upgraded by StockNews.com

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

Several other equities analysts have also commented on NAT. Jefferies Financial Group restated a “hold” rating and issued a $4.00 price objective on shares of Nordic American Tankers in a report on Thursday, September 12th. Evercore ISI decreased their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th.

Nordic American Tankers Stock Performance

Nordic American Tankers stock opened at $3.08 on Wednesday. The firm has a 50 day simple moving average of $3.59 and a 200-day simple moving average of $3.78. Nordic American Tankers has a 1-year low of $3.06 and a 1-year high of $4.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63. The stock has a market cap of $642.06 million, a price-to-earnings ratio of 10.60 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. During the same period in the prior year, the business posted $0.13 EPS. On average, analysts expect that Nordic American Tankers will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Nordic American Tankers

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in shares of Nordic American Tankers by 36,804.9% in the 1st 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. Dimensional Fund Advisors LP raised its holdings in shares of Nordic American Tankers by 5.7% in 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 purchasing an additional 621,588 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Nordic American Tankers in the 1st quarter valued at $2,443,000. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 275,707 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Nordic American Tankers by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 2,904 shares in 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, 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.