Nordic American Tanker (NAT) Raised to “Hold” at ValuEngine
ValuEngine upgraded shares of Nordic American Tanker (NYSE:NAT) from a sell rating to a hold rating in a research report released on Monday.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Nordic American Tanker from a hold rating to a sell rating in a report on Wednesday, September 26th. BTIG Research initiated coverage on Nordic American Tanker in a report on Thursday, September 27th. They issued a neutral rating on the stock. B. Riley initiated coverage on Nordic American Tanker in a report on Friday, November 9th. They issued a buy rating and a $4.25 price objective on the stock. Finally, Seaport Global Securities set a $3.00 price objective on Nordic American Tanker and gave the stock a hold rating in a report on Monday, November 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $2.50.
NAT stock traded down $0.02 during trading on Monday, hitting $2.08. The stock had a trading volume of 9,522 shares, compared to its average volume of 1,360,148. The company has a current ratio of 4.29, a quick ratio of 3.50 and a debt-to-equity ratio of 0.67. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $3.47. The stock has a market cap of $306.65 million, a price-to-earnings ratio of -2.93 and a beta of 0.39.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Nordic American Tanker by 21.8% in the 2nd quarter. Rhumbline Advisers now owns 135,529 shares of the shipping company’s stock worth $363,000 after purchasing an additional 24,273 shares in the last quarter. Raymond James & Associates lifted its stake in Nordic American Tanker by 89.3% in the 2nd quarter. Raymond James & Associates now owns 52,165 shares of the shipping company’s stock worth $140,000 after purchasing an additional 24,603 shares in the last quarter. California Public Employees Retirement System lifted its stake in Nordic American Tanker by 39.7% in the 2nd quarter. California Public Employees Retirement System now owns 96,521 shares of the shipping company’s stock worth $259,000 after purchasing an additional 27,421 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Nordic American Tanker by 116.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 60,328 shares of the shipping company’s stock worth $162,000 after purchasing an additional 32,471 shares in the last quarter. Finally, WealthTrust Axiom LLC lifted its stake in Nordic American Tanker by 4.4% in the 3rd quarter. WealthTrust Axiom LLC now owns 950,318 shares of the shipping company’s stock worth $1,986,000 after purchasing an additional 39,990 shares in the last quarter. 24.56% of the stock is currently owned by institutional investors and hedge funds.
About Nordic American Tanker
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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