Nordic American Tanker (NYSE:NAT) was upgraded by investment analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a $3.00 price objective on the shipping company’s stock. Jefferies Group’s target price indicates a potential upside of 12.36% from the company’s previous close.

NAT has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Nordic American Tanker from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 10th. Maxim Group reissued a “sell” rating on shares of Nordic American Tanker in a research note on Monday, November 6th. Finally, Morgan Stanley lowered their target price on shares of Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.17.

Shares of Nordic American Tanker (NAT) traded up $0.02 during trading hours on Thursday, hitting $2.67. 5,568,636 shares of the stock were exchanged, compared to its average volume of 1,276,798. The firm has a market capitalization of $270.16, a price-to-earnings ratio of 91.75 and a beta of 0.88. The company has a current ratio of 4.69, a quick ratio of 3.87 and a debt-to-equity ratio of 0.52. Nordic American Tanker has a 52 week low of $2.64 and a 52 week high of $9.39.

Several large investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC increased its position in shares of Nordic American Tanker by 0.4% during the second quarter. TIAA CREF Investment Management LLC now owns 264,049 shares of the shipping company’s stock worth $1,674,000 after acquiring an additional 922 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Nordic American Tanker by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 343,384 shares of the shipping company’s stock worth $2,176,000 after acquiring an additional 2,019 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Nordic American Tanker by 1.8% during the first quarter. Teachers Advisors LLC now owns 167,065 shares of the shipping company’s stock worth $1,367,000 after acquiring an additional 2,945 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nordic American Tanker by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 411,778 shares of the shipping company’s stock worth $2,611,000 after acquiring an additional 3,425 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Nordic American Tanker by 3.8% during the second quarter. Rhumbline Advisers now owns 119,174 shares of the shipping company’s stock worth $756,000 after acquiring an additional 4,375 shares in the last quarter. 23.68% of the stock is owned by institutional investors.

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About Nordic American Tanker

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 Tanker (NYSE:NAT)

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