Nordic American Tankers Limited (NYSE:NAT) had its target price lowered by equities researchers at Maxim Group from $4.00 to $3.00 in a research report issued to clients and investors on Monday. The firm presently has a “sell” rating on the shipping company’s stock. Maxim Group’s price objective would indicate a potential downside of 39.76% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. TheStreet downgraded shares of Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Nordic American Tankers Limited from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 16th. Jefferies Group LLC restated a “sell” rating and set a $5.00 price objective on shares of Nordic American Tankers Limited in a report on Monday, July 17th. BidaskClub downgraded shares of Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Evercore ISI downgraded shares of Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and cut their price objective for the company from $6.00 to $5.00 in a report on Friday, July 21st. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $6.25.

Shares of Nordic American Tankers Limited (NYSE NAT) opened at 4.98 on Monday. The stock’s 50 day moving average is $5.33 and its 200-day moving average is $6.15. Nordic American Tankers Limited has a one year low of $4.41 and a one year high of $9.95. The stock’s market cap is $507.81 million.

Nordic American Tankers Limited (NYSE:NAT) last posted its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $39.10 million for the quarter, compared to analyst estimates of $42.47 million. During the same quarter last year, the company earned $0.15 EPS. The business’s revenue was down 29.2% compared to the same quarter last year. On average, equities analysts forecast that Nordic American Tankers Limited will post ($0.46) EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of NAT. Nationwide Fund Advisors boosted its position in Nordic American Tankers Limited by 0.8% in the first quarter. Nationwide Fund Advisors now owns 58,327 shares of the shipping company’s stock valued at $477,000 after buying an additional 469 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Nordic American Tankers Limited in the first quarter valued at approximately $118,000. Parametric Portfolio Associates LLC boosted its position in Nordic American Tankers Limited by 8.1% in the first quarter. Parametric Portfolio Associates LLC now owns 56,164 shares of the shipping company’s stock valued at $459,000 after buying an additional 4,220 shares during the last quarter. Stifel Financial Corp boosted its position in Nordic American Tankers Limited by 31.6% in the first quarter. Stifel Financial Corp now owns 33,837 shares of the shipping company’s stock valued at $277,000 after buying an additional 8,123 shares during the last quarter. Finally, American International Group Inc. boosted its position in Nordic American Tankers Limited by 19.7% in the first quarter. American International Group Inc. now owns 59,756 shares of the shipping company’s stock valued at $489,000 after buying an additional 9,814 shares during the last quarter. Hedge funds and other institutional investors own 23.18% of the company’s stock.

Nordic American Tankers Limited Company Profile

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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