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

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

A number of other brokerages have also weighed in on NAT. Evercore ISI dropped 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. Jefferies Financial Group reissued a “hold” rating and set a $4.00 price objective on shares of Nordic American Tankers in a report on Thursday, September 12th.

Nordic American Tankers Price Performance

NYSE NAT opened at $3.08 on Wednesday. The firm’s fifty day simple moving average is $3.59 and its two-hundred day simple moving average is $3.78. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 12-month low of $3.06 and a 12-month high of $4.78. The firm has a market capitalization of $642.06 million, a P/E ratio of 10.60 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The business had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same period in the previous year, the company earned $0.13 earnings per share. Analysts forecast that Nordic American Tankers will post 0.32 EPS for the current fiscal year.

Institutional Trading of Nordic American Tankers

A number of institutional investors and hedge funds have recently modified their holdings of NAT. BNP Paribas Financial Markets grew its stake in Nordic American Tankers by 46.3% during the 1st quarter. BNP Paribas Financial Markets now owns 109,406 shares of the shipping company’s stock valued at $429,000 after acquiring an additional 34,631 shares in the last quarter. Capstone Investment Advisors LLC grew its stake in Nordic American Tankers by 44.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 51,426 shares of the shipping company’s stock valued at $202,000 after acquiring an additional 15,780 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Nordic American Tankers during the 1st quarter valued at about $730,000. SG Americas Securities LLC purchased a new stake in Nordic American Tankers during the 1st quarter valued at about $47,000. Finally, Russell Investments Group Ltd. grew its stake in Nordic American Tankers by 36,804.9% during the 1st quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock valued at $2,432,000 after acquiring an additional 618,690 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

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.