StockNews.com Lowers Nordic American Tankers (NYSE:NAT) to Sell

Nordic American Tankers (NYSE:NAT - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Tuesday.

Several other analysts have also weighed in on NAT. Evercore ISI lowered 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 issued a $4.00 price target on shares of Nordic American Tankers in a report on Thursday, September 12th.

Nordic American Tankers Stock Down 1.5 %

NYSE NAT traded down $0.05 on Tuesday, hitting $3.30. 1,688,755 shares of the stock were exchanged, compared to its average volume of 2,498,780. The company has a market cap of $689.04 million, a PE ratio of 11.38 and a beta of -0.20. 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 fifty-two week low of $3.28 and a fifty-two week high of $4.83. The company has a 50-day moving average price of $3.62 and a 200-day moving average price of $3.80.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The firm had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same period last year, the firm posted $0.13 EPS. Sell-side analysts anticipate that Nordic American Tankers will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordic American Tankers

Several institutional investors and hedge funds have recently modified their holdings of NAT. Dimensional Fund Advisors LP grew its stake in Nordic American Tankers by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company's stock worth $46,195,000 after purchasing an additional 621,588 shares during the period. American Century Companies Inc. boosted its holdings in shares of Nordic American Tankers by 40.5% in the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company's stock worth $13,928,000 after purchasing an additional 1,009,096 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Nordic American Tankers by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company's stock worth $6,595,000 after purchasing an additional 275,707 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Nordic American Tankers by 122.8% in the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company's stock valued at $5,141,000 after acquiring an additional 711,973 shares during the last quarter. Finally, TrueMark Investments LLC bought a new position in Nordic American Tankers during the 2nd quarter valued at approximately $4,373,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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