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

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

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

Nordic American Tankers Trading Down 2.5%

Nordic American Tankers stock opened at $6.05 on Friday. The business has a 50-day simple moving average of $5.67 and a two-hundred day simple moving average of $5.21. The company has a market cap of $1.28 billion, a P/E ratio of 22.40 and a beta of -0.57. Nordic American Tankers has a 52-week low of $2.67 and a 52-week high of $6.70. The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83.

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, beating the consensus estimate 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 firm had revenue of $77.51 million during the quarter, compared to analyst estimates of $81.86 million. Analysts predict that Nordic American Tankers will post 0.58 EPS for the current year.

Institutional Trading of Nordic American Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Simcoe Capital LLC bought a new position in shares of Nordic American Tankers during the 4th quarter valued at approximately $3,522,000. CenterBook Partners LP increased its holdings in Nordic American Tankers by 110.1% in the 4th 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. Argos Wealth Advisors LLC bought a new stake in Nordic American Tankers during the 4th quarter worth approximately $39,000. Sequoia Financial Advisors LLC raised its stake in Nordic American Tankers by 18.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 22,831 shares of the shipping company’s stock worth $79,000 after acquiring an additional 3,571 shares during the period. Finally, Torren Management LLC purchased a new position in Nordic American Tankers during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

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.