Nordic American Tankers (NYSE:NAT) Upgraded to “Hold” at Wall Street Zen

Nordic American Tankers (NYSE:NAT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

NAT has been the subject of a number of other research reports. Evercore ISI boosted their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordic American Tankers in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a research report on Friday, November 28th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Price Performance

NYSE NAT opened at $3.74 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.04 and a current ratio of 1.95. The stock has a market capitalization of $791.95 million, a P/E ratio of 187.09 and a beta of -0.45. The stock has a fifty day moving average of $3.55 and a 200-day moving average of $3.11. Nordic American Tankers has a 52 week low of $2.13 and a 52 week high of $3.93.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%.The business had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. On average, equities research analysts forecast that Nordic American Tankers will post 0.24 EPS for the current year.

Hedge Funds Weigh In On Nordic American Tankers

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Nordic American Tankers by 61.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company’s stock valued at $10,644,000 after buying an additional 1,648,496 shares during the last quarter. Nuveen LLC bought a new position in Nordic American Tankers in the 1st quarter valued at about $3,150,000. Millennium Management LLC boosted its stake in Nordic American Tankers by 108.3% during the 3rd quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock valued at $7,628,000 after purchasing an additional 1,263,228 shares during the last quarter. CenterBook Partners LP increased its holdings in Nordic American Tankers by 168.4% during the 3rd quarter. CenterBook Partners LP now owns 1,761,198 shares of the shipping company’s stock worth $5,530,000 after purchasing an additional 1,104,929 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Nordic American Tankers by 25.2% during the 3rd quarter. American Century Companies Inc. now owns 5,260,627 shares of the shipping company’s stock worth $16,518,000 after purchasing an additional 1,057,232 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.