Nordic American Tankers (NYSE:NAT) Rating Increased to Strong-Buy at Wall Street Zen

Nordic American Tankers (NYSE:NAT) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Separately, Evercore downgraded Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price on the stock. in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Nordic American Tankers presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Stock Down 2.5%

Shares of Nordic American Tankers stock opened at $6.05 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00. The stock has a market capitalization of $1.28 billion, a PE ratio of 22.40 and a beta of -0.57. Nordic American Tankers has a 52-week low of $2.67 and a 52-week high of $6.70. The company has a 50-day simple moving average of $5.67 and a two-hundred day simple moving average of $5.21.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $77.51 million for the quarter, compared to analysts’ expectations of $81.86 million. On average, analysts anticipate that Nordic American Tankers will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CenterBook Partners LP boosted its holdings in Nordic American Tankers by 110.1% in the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock worth $12,729,000 after purchasing an additional 1,939,211 shares during the last quarter. Millennium Management LLC grew its position in Nordic American Tankers by 108.3% in the 3rd quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock worth $7,628,000 after purchasing an additional 1,263,228 shares during the period. UBS Group AG raised its stake in Nordic American Tankers by 83.9% during the 3rd quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock valued at $7,152,000 after buying an additional 1,039,353 shares during the last quarter. Simcoe Capital LLC purchased a new stake in Nordic American Tankers during the 4th quarter valued at $3,522,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Nordic American Tankers during the 1st quarter valued at $4,377,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.