Nordic American Tankers (NYSE:NAT) Upgraded at Wall Street Zen

Nordic American Tankers (NYSE:NAT) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.

Separately, Evercore downgraded shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective for the company. in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Trading Up 2.4%

Nordic American Tankers stock opened at $5.39 on Friday. The firm has a 50-day moving average of $5.65 and a 200-day moving average of $4.74. Nordic American Tankers has a one year low of $2.60 and a one year high of $6.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.00 and a quick ratio of 1.94. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 19.94 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The company had revenue of $77.51 million during the quarter, compared to the consensus estimate of $81.86 million. On average, equities analysts expect that Nordic American Tankers will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordic American Tankers

A number of institutional investors and hedge funds have recently modified their holdings of NAT. AQR Capital Management LLC lifted its stake in Nordic American Tankers by 269.8% in the 1st quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock valued at $319,000 after purchasing an additional 94,514 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Nordic American Tankers by 298.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock valued at $168,000 after purchasing an additional 51,187 shares during the last quarter. Empowered Funds LLC lifted its stake in Nordic American Tankers by 8.9% in the 1st quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock valued at $546,000 after purchasing an additional 18,222 shares during the last quarter. Jane Street Group LLC lifted its stake in Nordic American Tankers by 22.6% in the 1st quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock valued at $1,054,000 after purchasing an additional 78,948 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Nordic American Tankers by 74.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 38,719 shares of the shipping company’s stock valued at $102,000 after purchasing an additional 16,560 shares during the last quarter. 44.29% of the stock is owned by institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.