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

Nordic American Tankers (NYSE:NAT) 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.

Nordic American Tankers Stock Performance

Shares of NAT traded up $0.04 during mid-day trading on Wednesday, hitting $3.71. The stock had a trading volume of 1,684,026 shares, compared to its average volume of 2,525,535. The firm has a market cap of $773.59 million, a P/E ratio of 11.58 and a beta of -0.19. The business has a fifty day moving average price of $3.63 and a 200-day moving average price of $3.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63. Nordic American Tankers has a 52 week low of $3.31 and a 52 week high of $4.83.

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, 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.