Shares of Nordic American Tankers Limited (NYSE:NAT) were up 7.9% during trading on Monday . The company traded as high as $5.77 and last traded at $5.76. Approximately 1,563,784 shares changed hands during mid-day trading, an increase of 57% from the average daily volume of 998,736 shares. The stock had previously closed at $5.34.

Several research firms have recently weighed in on NAT. Vetr raised Nordic American Tankers Limited from a “buy” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a research report on Monday, June 5th. Zacks Investment Research downgraded Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 27th. Jefferies Group LLC reissued a “sell” rating and issued a $5.00 target price on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. Evercore ISI lowered Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and dropped their target price for the company from $6.00 to $5.00 in a research report on Friday, July 21st. Finally, Maxim Group set a $5.00 target price on Nordic American Tankers Limited and gave the company a “sell” rating in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.93.

The company’s market capitalization is $587.34 million. The firm’s 50-day moving average is $5.14 and its 200 day moving average is $6.39.

Nordic American Tankers Limited (NYSE:NAT) last posted its quarterly earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $39.10 million during the quarter, compared to analyst estimates of $42.47 million. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. On average, equities analysts expect that Nordic American Tankers Limited will post ($0.39) earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of Nordic American Tankers Limited by 40.4% during the second quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock valued at $14,536,000 after buying an additional 659,827 shares during the last quarter. State Street Corp lifted its position in Nordic American Tankers Limited by 6.9% in the 2nd quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after acquiring an additional 114,052 shares in the last quarter. Global X Management Co. LLC lifted its position in Nordic American Tankers Limited by 4.7% in the 2nd quarter. Global X Management Co. LLC now owns 1,098,976 shares of the shipping company’s stock valued at $6,968,000 after acquiring an additional 49,761 shares in the last quarter. WealthTrust Axiom LLC lifted its position in Nordic American Tankers Limited by 7.2% in the 2nd quarter. WealthTrust Axiom LLC now owns 662,196 shares of the shipping company’s stock valued at $4,198,000 after acquiring an additional 44,443 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Nordic American Tankers Limited by 19.0% in the 2nd quarter. Wells Fargo & Company MN now owns 486,605 shares of the shipping company’s stock valued at $3,085,000 after acquiring an additional 77,822 shares in the last quarter. Hedge funds and other institutional investors own 23.18% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This report was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/10/02/nordic-american-tankers-limited-nat-trading-up-7-9.html.

Nordic American Tankers Limited Company Profile

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Receive News & Stock Ratings for Nordic American Tankers Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers Limited and related stocks with our FREE daily email newsletter.