Nordic American Tanker (NYSE:NAT) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Nordic American Tanker (NYSE:NAT) from a sell rating to a hold rating in a research note released on Wednesday, ValuEngine reports.

A number of other analysts have also recently weighed in on NAT. BTIG Research raised Nordic American Tanker from a neutral rating to a buy rating and set a $4.00 price objective for the company in a research report on Monday, October 7th. B. Riley set a $5.00 price target on Nordic American Tanker and gave the company a buy rating in a report on Friday, August 16th. Zacks Investment Research raised Nordic American Tanker from a sell rating to a hold rating in a report on Thursday, October 17th. Finally, TheStreet raised Nordic American Tanker from a d+ rating to a c- rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Nordic American Tanker presently has an average rating of Hold and an average target price of $3.05.

NYSE:NAT opened at $3.28 on Wednesday. The stock’s 50 day moving average price is $3.27 and its 200 day moving average price is $2.39. The company has a market capitalization of $466.37 million, a PE ratio of -5.38 and a beta of 0.73. The company has a quick ratio of 1.98, a current ratio of 2.54 and a debt-to-equity ratio of 0.67. Nordic American Tanker has a 52-week low of $1.66 and a 52-week high of $4.47.

Nordic American Tanker (NYSE:NAT) last released its quarterly earnings results on Friday, August 16th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Nordic American Tanker had a negative return on equity of 6.26% and a negative net margin of 38.10%. The firm had revenue of $30.65 million for the quarter, compared to the consensus estimate of $33.65 million. As a group, sell-side analysts anticipate that Nordic American Tanker will post -0.01 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. lifted its holdings in shares of Nordic American Tanker by 3.4% in the 3rd quarter. Moors & Cabot Inc. now owns 77,093 shares of the shipping company’s stock valued at $165,000 after buying an additional 2,524 shares during the period. AE Wealth Management LLC raised its holdings in Nordic American Tanker by 18.6% during the second quarter. AE Wealth Management LLC now owns 30,019 shares of the shipping company’s stock worth $70,000 after purchasing an additional 4,703 shares during the last quarter. Man Group plc acquired a new position in Nordic American Tanker during the second quarter worth $25,000. Paloma Partners Management Co acquired a new position in Nordic American Tanker during the second quarter worth $25,000. Finally, Chicago Equity Partners LLC acquired a new position in Nordic American Tanker during the second quarter worth $26,000. 24.55% of the stock is owned by institutional investors and hedge funds.

Nordic American Tanker Company Profile

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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