Nordic American Tankers (NYSE:NAT) Stock Rating Upgraded by StockNews.com

Nordic American Tankers (NYSE:NAT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

NAT has been the topic of several other reports. Evercore ISI dropped their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th. Jefferies Financial Group restated a “hold” rating and set a $4.00 price target on shares of Nordic American Tankers in a research note on Thursday, September 12th.

Nordic American Tankers Stock Performance

NAT stock traded down $0.08 during mid-day trading on Wednesday, hitting $3.19. The company had a trading volume of 300,418 shares, compared to its average volume of 2,497,478. Nordic American Tankers has a 12 month low of $3.06 and a 12 month high of $4.65. The stock’s fifty day moving average price is $3.56 and its two-hundred day moving average price is $3.77. The firm has a market cap of $666.07 million, a PE ratio of 11.07 and a beta of -0.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period in the prior year, the company earned $0.13 earnings per share. On average, analysts forecast that Nordic American Tankers will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordic American Tankers

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in Nordic American Tankers by 46.3% in the 1st quarter. BNP Paribas Financial Markets now owns 109,406 shares of the shipping company’s stock valued at $429,000 after purchasing an additional 34,631 shares during the period. Capstone Investment Advisors LLC grew its position in Nordic American Tankers by 44.3% during the first quarter. Capstone Investment Advisors LLC now owns 51,426 shares of the shipping company’s stock worth $202,000 after buying an additional 15,780 shares in the last quarter. Quantbot Technologies LP bought a new position in Nordic American Tankers in the 1st quarter worth about $730,000. SG Americas Securities LLC bought a new stake in shares of Nordic American Tankers during the 1st quarter valued at about $47,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Nordic American Tankers by 36,804.9% during the first quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock worth $2,432,000 after purchasing an additional 618,690 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.