Nordic American Tanker (NYSE:NAT) Shares Gap Down to $4.35

Shares of Nordic American Tanker Ltd (NYSE:NAT) gapped down before the market opened on Friday . The stock had previously closed at $4.39, but opened at $4.35. Nordic American Tanker shares last traded at $4.08, with a volume of 115,011 shares trading hands.

NAT has been the topic of a number of recent research reports. TheStreet raised Nordic American Tanker from a “d+” rating to a “c-” rating in a research report on Monday, October 21st. Zacks Investment Research raised Nordic American Tanker from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research note on Saturday, January 4th. ValuEngine lowered Nordic American Tanker from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. BTIG Research raised Nordic American Tanker from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, October 7th. Finally, B. Riley reissued a “buy” rating and set a $4.75 price objective on shares of Nordic American Tanker in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.81.

The firm has a market capitalization of $611.18 million, a PE ratio of -16.92 and a beta of 0.84. The business has a 50 day moving average price of $4.58 and a 200-day moving average price of $3.15. The company has a current ratio of 2.18, a quick ratio of 1.83 and a debt-to-equity ratio of 0.68.

Nordic American Tanker (NYSE:NAT) last announced its earnings results on Monday, November 25th. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.04). Nordic American Tanker had a negative return on equity of 5.14% and a negative net margin of 20.86%. The business had revenue of $32.35 million for the quarter, compared to analysts’ expectations of $45.03 million. On average, equities research analysts forecast that Nordic American Tanker Ltd will post 0.03 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Nordic American Tanker by 20.8% during the second quarter. Bank of Montreal Can now owns 77,243 shares of the shipping company’s stock valued at $181,000 after purchasing an additional 13,299 shares during the last quarter. Renaissance Technologies LLC raised its position in Nordic American Tanker by 146.9% in the 2nd quarter. Renaissance Technologies LLC now owns 997,500 shares of the shipping company’s stock worth $2,334,000 after buying an additional 593,500 shares during the last quarter. Northern Trust Corp raised its position in Nordic American Tanker by 1.4% in the 2nd quarter. Northern Trust Corp now owns 1,335,442 shares of the shipping company’s stock worth $3,125,000 after buying an additional 18,144 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Nordic American Tanker by 13.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 273,895 shares of the shipping company’s stock worth $641,000 after buying an additional 32,530 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Nordic American Tanker by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 357,810 shares of the shipping company’s stock worth $837,000 after buying an additional 22,373 shares during the last quarter. 24.70% of the stock is currently owned by institutional investors and hedge funds.

About Nordic American Tanker (NYSE:NAT)

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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