Nordic American Tankers (NYSE:NAT) Rating Lowered to Buy at Wall Street Zen

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

Separately, Evercore cut shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nordic American Tankers currently has a consensus rating of “Reduce” and an average price target of $4.00.

Nordic American Tankers Trading Up 0.4%

Shares of NAT stock opened at $6.45 on Friday. The company has a market capitalization of $1.36 billion, a P/E ratio of 23.87 and a beta of -0.57. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $5.74 and its two-hundred day moving average is $5.32. Nordic American Tankers has a twelve month low of $2.70 and a twelve month high of $6.70.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The business had revenue of $77.51 million during the quarter, compared to analysts’ expectations of $81.86 million. Equities analysts forecast that Nordic American Tankers will post 0.58 EPS for the current year.

Hedge Funds Weigh In On Nordic American Tankers

A number of large investors have recently modified their holdings of NAT. Dimensional Fund Advisors LP lifted its holdings in shares of Nordic American Tankers by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock valued at $71,430,000 after buying an additional 460,555 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nordic American Tankers by 7.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,124,150 shares of the shipping company’s stock worth $16,090,000 after acquiring an additional 369,462 shares during the period. CenterBook Partners LP raised its position in Nordic American Tankers by 110.1% in the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock worth $12,729,000 after acquiring an additional 1,939,211 shares in the last quarter. Millennium Management LLC raised its position in Nordic American Tankers by 108.3% in the third quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock worth $7,628,000 after acquiring an additional 1,263,228 shares in the last quarter. Finally, UBS Group AG raised its position in Nordic American Tankers by 83.9% in the third quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock worth $7,152,000 after acquiring an additional 1,039,353 shares in the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile

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.