Nordic American Tanker Ltd (NAT) Given Average Recommendation of “Hold” by Brokerages

Nordic American Tanker Ltd (NYSE:NAT) has received an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.17.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Nordic American Tanker from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 10th. Maxim Group restated a “sell” rating and issued a $3.00 target price (down from $4.00) on shares of Nordic American Tanker in a report on Monday, October 23rd. 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 report on Wednesday, November 8th. Jefferies Group upgraded shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 target price for the company in a report on Thursday, December 14th. Finally, Clarkson Capital upgraded shares of Nordic American Tanker from a “neutral” rating to a “buy” rating in a report on Friday, January 5th.

Shares of Nordic American Tanker (NYSE:NAT) opened at $2.63 on Friday. Nordic American Tanker has a twelve month low of $2.45 and a twelve month high of $9.39. The stock has a market cap of $373.32, a P/E ratio of -2.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71.

Nordic American Tanker (NYSE:NAT) last released its earnings results on Friday, November 3rd. The shipping company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Nordic American Tanker had a negative net margin of 32.51% and a negative return on equity of 6.49%. equities analysts anticipate that Nordic American Tanker will post -0.63 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its position in Nordic American Tanker by 46.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 435,285 shares of the shipping company’s stock valued at $2,760,000 after buying an additional 138,574 shares in the last quarter. Wells Fargo & Company MN lifted its position in Nordic American Tanker by 19.0% during the second quarter. Wells Fargo & Company MN now owns 486,605 shares of the shipping company’s stock valued at $3,085,000 after buying an additional 77,822 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Nordic American Tanker by 73.2% during the third quarter. Canada Pension Plan Investment Board now owns 80,367 shares of the shipping company’s stock valued at $429,000 after buying an additional 33,967 shares in the last quarter. Shelton Capital Management lifted its position in Nordic American Tanker by 33.3% during the second quarter. Shelton Capital Management now owns 200,000 shares of the shipping company’s stock valued at $1,268,000 after buying an additional 50,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Nordic American Tanker during the second quarter valued at approximately $479,000. 16.93% of the stock is currently owned by hedge funds and other 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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