Nordic American Tankers (NYSE:NAT) Upgraded to Hold at Zacks Investment Research

Nordic American Tankers (NYSE:NATGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Nordic American Tankers operates one of the largest fleets of Suezmax tankers in the world. The fleet consists of 24 Suezmax tankers, including 2 newbuilds. “

NYSE NAT opened at $2.64 on Tuesday. The company has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $2.00. Nordic American Tankers has a 52-week low of $1.40 and a 52-week high of $3.81. The firm has a market capitalization of $510.73 million, a price-to-earnings ratio of -3.62 and a beta of 0.21. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.59 and a quick ratio of 1.28.

Nordic American Tankers (NYSE:NATGet Rating) last released its quarterly earnings data on Friday, February 25th. The shipping company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). Nordic American Tankers had a negative return on equity of 19.85% and a negative net margin of 176.94%. The firm had revenue of $22.63 million for the quarter, compared to the consensus estimate of $26.78 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. On average, analysts predict that Nordic American Tankers will post -0.32 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG acquired a new position in Nordic American Tankers during the fourth quarter valued at approximately $39,000. Marshall Wace LLP acquired a new position in Nordic American Tankers during the third quarter valued at approximately $41,000. Citigroup Inc. grew its holdings in Nordic American Tankers by 126.4% during the third quarter. Citigroup Inc. now owns 17,382 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 9,704 shares during the last quarter. Toroso Investments LLC acquired a new position in Nordic American Tankers during the third quarter valued at approximately $46,000. Finally, Kestra Advisory Services LLC grew its holdings in Nordic American Tankers by 26.7% during the third quarter. Kestra Advisory Services LLC now owns 19,121 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 4,025 shares during the last quarter. Hedge funds and other institutional investors own 28.96% of the company’s stock.

About Nordic American Tankers (Get Rating)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

Further Reading

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