Shares of Nordic American Tankers Limited (NYSE:NAT) have earned an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $5.90.

NAT has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 price target on shares of Nordic American Tankers Limited in a report on Monday, July 17th. Evercore ISI downgraded shares of Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Friday, July 21st. Maxim Group set a $5.00 price target on shares of Nordic American Tankers Limited and gave the company a “sell” rating in a report on Saturday, July 22nd. Finally, BidaskClub downgraded shares of Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th.

A number of institutional investors have recently bought and sold shares of NAT. Nationwide Fund Advisors raised its position in Nordic American Tankers Limited by 0.8% in the 1st quarter. Nationwide Fund Advisors now owns 58,327 shares of the shipping company’s stock worth $477,000 after purchasing an additional 469 shares during the period. Wells Fargo & Company MN raised its position in Nordic American Tankers Limited by 86.8% in the 1st quarter. Wells Fargo & Company MN now owns 408,783 shares of the shipping company’s stock worth $3,344,000 after purchasing an additional 189,905 shares during the period. Karp Capital Management Corp purchased a new stake in Nordic American Tankers Limited in the 1st quarter worth about $118,000. Parametric Portfolio Associates LLC raised its position in Nordic American Tankers Limited by 8.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 56,164 shares of the shipping company’s stock worth $459,000 after purchasing an additional 4,220 shares during the period. Finally, Stifel Financial Corp raised its position in Nordic American Tankers Limited by 31.6% in the 1st quarter. Stifel Financial Corp now owns 33,837 shares of the shipping company’s stock worth $277,000 after purchasing an additional 8,123 shares during the period. 23.18% of the stock is currently owned by institutional investors.

Nordic American Tankers Limited (NYSE:NAT) opened at 5.31 on Thursday. The stock’s market cap is $541.46 million. Nordic American Tankers Limited has a 12-month low of $4.41 and a 12-month high of $9.96. The stock has a 50 day moving average price of $5.20 and a 200 day moving average price of $6.27.

Nordic American Tankers Limited (NYSE:NAT) last announced its quarterly earnings results on Monday, August 7th. The shipping company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.03). Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business had revenue of $39.10 million during the quarter, compared to the consensus estimate of $42.47 million. During the same period in the previous year, the business posted $0.15 EPS. The firm’s revenue was down 29.2% on a year-over-year basis. On average, analysts forecast that Nordic American Tankers Limited will post ($0.40) earnings per share for the current fiscal year.

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About Nordic American Tankers Limited

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Analyst Recommendations for Nordic American Tankers Limited (NYSE:NAT)

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