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

Nordic American Tankers (NYSE:NAT) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also issued research reports about the company. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, August 28th. Evercore ISI upped their target price on Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nordic American Tankers in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.00.

Nordic American Tankers Stock Up 3.5%

Nordic American Tankers stock opened at $3.86 on Friday. The company has a current ratio of 2.33, a quick ratio of 2.04 and a debt-to-equity ratio of 0.84. Nordic American Tankers has a 1-year low of $2.13 and a 1-year high of $3.93. The firm’s fifty day simple moving average is $3.46 and its 200-day simple moving average is $3.04. The company has a market capitalization of $817.36 million, a P/E ratio of 55.14 and a beta of -0.36.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in shares of Nordic American Tankers in the first quarter valued at about $3,150,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nordic American Tankers by 61.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company’s stock valued at $10,644,000 after acquiring an additional 1,648,496 shares in the last quarter. Jump Financial LLC lifted its position in shares of Nordic American Tankers by 44.7% in the 1st quarter. Jump Financial LLC now owns 264,617 shares of the shipping company’s stock worth $651,000 after acquiring an additional 81,724 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Nordic American Tankers by 33.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company’s stock worth $42,000 after acquiring an additional 3,998 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Nordic American Tankers by 48.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,436 shares of the shipping company’s stock worth $101,000 after purchasing an additional 12,178 shares in the last quarter. 44.29% of the stock is owned by institutional investors.

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.