Nordic American Tankers (NYSE:NAT) Receives Hold (C) Rating from Weiss Ratings

Nordic American Tankers (NYSE:NAT)‘s stock had its “hold (c)” rating restated by equities researchers at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Jefferies Financial Group restated a “hold” rating and set a $3.00 target price on shares of Nordic American Tankers in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Nordic American Tankers currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Nordic American Tankers Stock Up 0.7%

NAT opened at $3.58 on Friday. The firm’s 50-day simple moving average is $3.23 and its 200-day simple moving average is $2.87. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.04 and a current ratio of 2.33. Nordic American Tankers has a twelve month low of $2.13 and a twelve month high of $3.62. The firm has a market cap of $757.01 million, a price-to-earnings ratio of 51.07 and a beta of -0.31.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). The company had revenue of $40.15 million for the quarter, compared to analyst estimates of $53.35 million. Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%. Equities research analysts anticipate that Nordic American Tankers will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordic American Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the company. HBK Sorce Advisory LLC bought a new position in shares of Nordic American Tankers in the third quarter valued at $33,000. Savant Capital LLC acquired a new stake in Nordic American Tankers during the 2nd quarter valued at $28,000. Sequoia Financial Advisors LLC lifted its holdings in Nordic American Tankers by 33.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 3,998 shares during the last quarter. Red Door Wealth Management LLC acquired a new stake in Nordic American Tankers during the 1st quarter valued at $39,000. Finally, BNP Paribas Financial Markets lifted its holdings in Nordic American Tankers by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 19,890 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 8,114 shares during the last quarter. 44.29% of the stock is owned by institutional investors.

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.