Wall Street Zen Upgrades Nordic American Tankers (NYSE:NAT) to “Hold”

Nordic American Tankers (NYSE:NAT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other research firms have also commented on NAT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 28th. Finally, Evercore ISI lifted their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.25.

Nordic American Tankers Stock Performance

Shares of NAT stock opened at $4.09 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.64 and a current ratio of 1.95. The firm has a market cap of $866.06 million, a price-to-earnings ratio of 204.60 and a beta of -0.43. Nordic American Tankers has a 52 week low of $2.13 and a 52 week high of $4.19. The firm’s 50-day simple moving average is $3.64 and its two-hundred day simple moving average is $3.30.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $40.18 million for the quarter, compared to analysts’ expectations of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. As a group, equities analysts forecast that Nordic American Tankers will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Nordic American Tankers

Several large investors have recently bought and sold shares of the business. BlueStem Wealth Partners LLC bought a new position in Nordic American Tankers during the 3rd quarter valued at about $32,000. HBK Sorce Advisory LLC bought a new stake in shares of Nordic American Tankers in the third quarter worth approximately $33,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nordic American Tankers during the third quarter valued at approximately $32,000. Savant Capital LLC bought a new position in Nordic American Tankers during the second quarter valued at approximately $28,000. Finally, Fortis Capital Advisors LLC bought a new position in Nordic American Tankers during the third quarter valued at approximately $37,000. 44.29% of the stock is currently owned by institutional investors.

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.