Nordic American Tankers (NYSE:NAT) Downgraded to “Buy” Rating by Wall Street Zen

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

Separately, Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nordic American Tankers presently has an average rating of “Reduce” and an average target price of $4.00.

Nordic American Tankers Stock Down 6.8%

Shares of Nordic American Tankers stock opened at $5.83 on Friday. The stock has a market capitalization of $1.24 billion, a PE ratio of 21.61 and a beta of -0.57. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00. The company has a 50-day simple moving average of $5.61 and a two-hundred day simple moving average of $4.95. Nordic American Tankers has a 52-week low of $2.60 and a 52-week high of $6.70.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Nordic American Tankers by 53.8% during the third quarter. Rhumbline Advisers now owns 482,172 shares of the shipping company’s stock valued at $1,514,000 after buying an additional 168,660 shares during the last quarter. American Century Companies Inc. grew its position in shares of Nordic American Tankers by 25.2% in the 3rd quarter. American Century Companies Inc. now owns 5,260,627 shares of the shipping company’s stock worth $16,518,000 after buying an additional 1,057,232 shares during the last quarter. Simcoe Capital LLC bought a new position in shares of Nordic American Tankers during the 4th quarter worth approximately $3,522,000. Quantbot Technologies LP raised its stake in shares of Nordic American Tankers by 511.8% during the 3rd quarter. Quantbot Technologies LP now owns 115,312 shares of the shipping company’s stock worth $362,000 after acquiring an additional 96,464 shares in the last quarter. Finally, CenterBook Partners LP lifted its position in Nordic American Tankers by 110.1% during the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock valued at $12,729,000 after acquiring an additional 1,939,211 shares during the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

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.