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

Nordic American Tankers (NYSE:NAT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other equities analysts have also recently issued reports on NAT. Evercore ISI decreased their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. Jefferies Financial Group reissued a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a research note on Friday.

Nordic American Tankers Stock Performance

Shares of NYSE:NAT traded down $0.04 during trading on Monday, hitting $2.65. The stock had a trading volume of 5,351,770 shares, compared to its average volume of 2,530,914. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 12-month low of $2.60 and a 12-month high of $4.64. The stock has a market capitalization of $552.28 million, a price-to-earnings ratio of 9.12 and a beta of -0.21. The stock has a 50-day simple moving average of $3.35 and a two-hundred day simple moving average of $3.66.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same quarter last year, the company posted $0.13 earnings per share. On average, equities research analysts expect that Nordic American Tankers will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Philip James Wealth Mangement LLC acquired a new stake in Nordic American Tankers in the 3rd quarter valued at about $4,069,000. Dimensional Fund Advisors LP grew its holdings in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after buying an additional 621,588 shares in the last quarter. Prevail Innovative Wealth Advisors LLC raised its holdings in shares of Nordic American Tankers by 24.8% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 777,711 shares of the shipping company’s stock worth $3,095,000 after acquiring an additional 154,558 shares during the period. Vanguard Group Inc. boosted its position in shares of Nordic American Tankers by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after acquiring an additional 275,707 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Nordic American Tankers by 180.9% during the 2nd quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company’s stock valued at $1,674,000 after acquiring an additional 270,946 shares during 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.