Nordic American Tankers Ltd. (NYSE:NAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “

NAT has been the subject of several other reports. Jefferies Group restated a “sell” rating on shares of Nordic American Tankers in a report on Monday, September 12th. Clarkson Capital cut Nordic American Tankers from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $10.00 in a report on Monday, October 3rd. Morgan Stanley restated an “equal weight” rating and issued a $9.00 target price (down from $12.00) on shares of Nordic American Tankers in a report on Friday, August 26th. Vetr cut Nordic American Tankers from a “hold” rating to a “sell” rating and set a $14.14 target price for the company. in a report on Thursday, June 23rd. Finally, ABN Amro cut Nordic American Tankers from a “buy” rating to a “sell” rating in a report on Thursday, June 30th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.63.

Analyst Recommendations for Nordic American Tankers (NYSE:NAT)

Shares of Nordic American Tankers (NYSE:NAT) opened at 9.91 on Tuesday. The company has a market capitalization of $885.15 million, a P/E ratio of 9.01 and a beta of 1.05. Nordic American Tankers has a 12-month low of $9.80 and a 12-month high of $17.02. The company has a 50 day moving average price of $10.35 and a 200 day moving average price of $13.08.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Nordic American Tankers had a return on equity of 11.28% and a net margin of 34.79%. During the same period in the previous year, the company posted $0.35 earnings per share. Equities analysts anticipate that Nordic American Tankers will post $0.64 EPS for the current year.

A number of institutional investors have recently bought and sold shares of NAT. Panagora Asset Management Inc. purchased a new position in Nordic American Tankers during the second quarter valued at about $8,887,000. Bank of New York Mellon Corp raised its position in Nordic American Tankers by 90.9% in the second quarter. Bank of New York Mellon Corp now owns 1,158,340 shares of the company’s stock valued at $16,090,000 after buying an additional 551,470 shares during the last quarter. Allianz Asset Management AG raised its position in Nordic American Tankers by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock valued at $17,002,000 after buying an additional 252,467 shares during the last quarter. Cipher Capital LP raised its position in Nordic American Tankers by 126.5% in the second quarter. Cipher Capital LP now owns 380,390 shares of the company’s stock valued at $5,284,000 after buying an additional 212,444 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Nordic American Tankers by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,314,203 shares of the company’s stock valued at $59,924,000 after buying an additional 149,318 shares during the last quarter. 29.31% of the stock is currently owned by hedge funds and other institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.

5 Day Chart for NYSE:NAT

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