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

Nordic American Tankers (NYSE:NAT) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other equities analysts have also commented on NAT. Jefferies Financial Group reaffirmed a “hold” rating and issued 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 for the company in a research report on Friday, August 30th.

Nordic American Tankers Stock Down 2.6 %

NAT stock opened at $2.98 on Thursday. The firm has a market cap of $622.22 million, a PE ratio of 10.28 and a beta of -0.21. Nordic American Tankers has a 12 month low of $2.95 and a 12 month high of $4.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63. The firm has a 50 day simple moving average of $3.49 and a 200 day simple moving average of $3.74.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping 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 business had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. During the same period last year, the company posted $0.13 EPS. Equities research 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings in Nordic American Tankers by 46.3% in the first quarter. BNP Paribas Financial Markets now owns 109,406 shares of the shipping company’s stock worth $429,000 after purchasing an additional 34,631 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Nordic American Tankers in the 1st quarter valued at approximately $47,000. Russell Investments Group Ltd. lifted its holdings in Nordic American Tankers by 36,804.9% in the 1st 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 during the last quarter. ProShare Advisors LLC boosted its position in Nordic American Tankers by 8.5% during the first 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 during the period. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in Nordic American Tankers during the first quarter valued at approximately $2,443,000. 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.