Nordic American Tankers (NYSE:NAT - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Thursday.
A number of other equities analysts have also weighed in on the company. Evercore ISI decreased their price target 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. Jefferies Financial Group reissued a "hold" rating and issued a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th.
Read Our Latest Stock Analysis on NAT
Nordic American Tankers Stock Performance
NAT stock traded down $0.02 during mid-day trading on Thursday, reaching $3.06. The company had a trading volume of 1,329,212 shares, compared to its average volume of 2,515,353. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $638.93 million, a P/E ratio of 10.55 and a beta of -0.21. Nordic American Tankers has a one year low of $2.95 and a one year high of $4.64. The stock's 50-day simple moving average is $3.50 and its two-hundred day simple moving average is $3.75.
Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. The company had revenue of $66.10 million for 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 last year, the company earned $0.13 earnings per share. Research analysts anticipate that Nordic American Tankers will post 0.32 EPS for the current year.
Hedge Funds Weigh In On Nordic American Tankers
Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted 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 buying an additional 618,690 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Nordic American Tankers during the third quarter worth $4,069,000. Dimensional Fund Advisors LP raised its stake in Nordic American Tankers by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company's stock valued at $46,195,000 after purchasing an additional 621,588 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in Nordic American Tankers in the first quarter valued at about $2,443,000. Finally, Vanguard Group Inc. raised its stake in Nordic American Tankers by 19.6% in the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company's stock valued at $6,595,000 after purchasing an additional 275,707 shares in the last quarter. 44.29% of the stock is owned by institutional investors.
Nordic American Tankers Company Profile
(
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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.
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