Nordic American Tankers (NYSE:NAT) Stock Rating Upgraded by Wall Street Zen

Nordic American Tankers (NYSE:NAT) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Separately, B. Riley Financial lifted their price objective on Nordic American Tankers from $7.50 to $8.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nordic American Tankers has a consensus rating of “Hold” and an average target price of $5.33.

Nordic American Tankers Stock Performance

Shares of NAT opened at $6.76 on Friday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 11.46 and a beta of -0.57. The business’s fifty day simple moving average is $6.35 and its two-hundred day simple moving average is $5.78. Nordic American Tankers has a 12 month low of $3.00 and a 12 month high of $7.20. The company has a current ratio of 3.27, a quick ratio of 3.05 and a debt-to-equity ratio of 0.78.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $84.18 million. Nordic American Tankers had a return on equity of 20.58% and a net margin of 47.04%. Research analysts anticipate that Nordic American Tankers will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in Nordic American Tankers during the second quarter valued at $30,000. FNY Investment Advisers LLC bought a new stake in shares of Nordic American Tankers during the 2nd quarter valued at about $32,000. Torren Management LLC purchased a new stake in shares of Nordic American Tankers during the 4th quarter valued at about $34,000. ROI Financial Advisors LLC purchased a new stake in shares of Nordic American Tankers during the 4th quarter valued at about $36,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Nordic American Tankers by 2,800.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock worth $37,000 after purchasing an additional 10,500 shares during the period. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.