Nordic American Tankers (NYSE:NAT – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
NAT has been the topic of a number of other reports. Jefferies Financial Group reiterated a “hold” rating and set a $4.00 price objective on shares of Nordic American Tankers in a research note on Thursday, September 12th. Evercore ISI decreased their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th.
Check Out Our Latest Stock Report on Nordic American Tankers
Nordic American Tankers Stock Performance
Nordic American Tankers (NYSE:NAT – Get Free Report) last issued its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. During the same period in the previous year, the company posted $0.13 earnings per share. On average, equities research analysts expect that Nordic American Tankers will post 0.38 EPS for the current year.
Hedge Funds Weigh In On Nordic American Tankers
A number of hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC boosted its holdings in shares of Nordic American Tankers by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock worth $145,000 after purchasing an additional 2,904 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Nordic American Tankers by 6.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock valued at $185,000 after acquiring an additional 3,003 shares during the period. Pettinga Financial Advisors LLC boosted its holdings in Nordic American Tankers by 38.3% during the 1st quarter. Pettinga Financial Advisors LLC now owns 15,900 shares of the shipping company’s stock valued at $62,000 after acquiring an additional 4,400 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Nordic American Tankers by 50.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after acquiring an additional 5,347 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Nordic American Tankers during the 2nd quarter valued at about $25,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also
- Five stocks we like better than Nordic American Tankers
- Russell 2000 Index, How Investors Use it For Profitable Trading
- S&P 500 Hitting Resistance: These 3 Stocks Offer the Best Upside
- What is the Hang Seng index?
- Nike’s Post-Earnings Drop Presents a Buying Opportunity
- Stock Splits, Do They Really Impact Investors?
- Microsoft’s Targeted Upside Might Be Too Good to Ignore
Receive News & Ratings for Nordic American Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers and related companies with MarketBeat.com's FREE daily email newsletter.