Nordic American Tanker (NAT) Rating Increased to Hold at ValuEngine

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ValuEngine upgraded shares of Nordic American Tanker (NYSE:NAT) from a sell rating to a hold rating in a research report report published on Monday.

Other analysts also recently issued research reports about the company. B. Riley started coverage on Nordic American Tanker in a research note on Friday, November 9th. They set a buy rating and a $4.25 price target on the stock. Zacks Investment Research upgraded Nordic American Tanker from a hold rating to a buy rating and set a $2.25 price target on the stock in a research note on Friday, January 4th. Seaport Global Securities set a $3.00 price target on Nordic American Tanker and gave the company a hold rating in a research note on Monday, November 12th. Finally, BTIG Research started coverage on Nordic American Tanker in a research note on Thursday, September 27th. They set a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Nordic American Tanker has a consensus rating of Hold and a consensus price target of $2.50.

NYSE:NAT traded down $0.05 during mid-day trading on Monday, hitting $2.11. 11,893 shares of the company’s stock traded hands, compared to its average volume of 1,170,100. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $3.47. The firm has a market capitalization of $315.17 million, a P/E ratio of -2.97 and a beta of 0.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.29 and a quick ratio of 3.50.

Nordic American Tanker (NYSE:NAT) last announced its earnings results on Monday, November 12th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.04). Nordic American Tanker had a negative net margin of 90.79% and a negative return on equity of 12.76%. The business had revenue of $23.19 million for the quarter, compared to analyst estimates of $26.40 million. On average, analysts expect that Nordic American Tanker will post -0.48 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Raymond James & Associates boosted its stake in shares of Nordic American Tanker by 89.3% in the second quarter. Raymond James & Associates now owns 52,165 shares of the shipping company’s stock worth $140,000 after buying an additional 24,603 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Nordic American Tanker in the second quarter worth about $142,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Nordic American Tanker by 116.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 60,328 shares of the shipping company’s stock worth $162,000 after buying an additional 32,471 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Nordic American Tanker by 39.7% in the second quarter. California Public Employees Retirement System now owns 96,521 shares of the shipping company’s stock worth $259,000 after buying an additional 27,421 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Nordic American Tanker by 21.8% in the second quarter. Rhumbline Advisers now owns 135,529 shares of the shipping company’s stock worth $363,000 after buying an additional 24,273 shares during the last quarter. Institutional investors and hedge funds own 24.56% of the company’s stock.

About Nordic American Tanker

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

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Analyst Recommendations for Nordic American Tanker (NYSE:NAT)

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