Zacks Investment Research lowered shares of Nordic American Tankers Limited (NYSE:NAT) from a hold rating to a sell rating in a report published on Thursday.
According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
A number of other equities analysts also recently commented on NAT. Jefferies Group LLC reaffirmed a sell rating and issued a $7.00 price objective on shares of Nordic American Tankers Limited in a report on Friday, March 31st. Maxim Group reaffirmed a sell rating and issued a $6.00 price objective on shares of Nordic American Tankers Limited in a report on Friday, April 21st. Finally, Vetr downgraded shares of Nordic American Tankers Limited from a strong-buy rating to a buy rating and set a $7.08 price objective for the company. in a report on Monday, May 8th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $7.07.
Nordic American Tankers Limited (NYSE:NAT) traded down 3.54% during mid-day trading on Thursday, reaching $5.99. 2,890,335 shares of the company traded hands. Nordic American Tankers Limited has a 52-week low of $5.47 and a 52-week high of $13.43. The firm’s 50-day moving average is $6.15 and its 200 day moving average is $7.57. The stock’s market capitalization is $610.79 million.
Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings results on Monday, May 8th. The shipping company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The company had revenue of $55.20 million for the quarter, compared to analyst estimates of $55.53 million. During the same period in the previous year, the business posted $0.33 EPS. The firm’s quarterly revenue was down 28.0% compared to the same quarter last year. On average, equities research analysts expect that Nordic American Tankers Limited will post ($0.21) earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Nordic American Tankers Limited by 12.3% in the fourth quarter. State Street Corp now owns 1,624,244 shares of the shipping company’s stock worth $13,646,000 after buying an additional 177,465 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Nordic American Tankers Limited by 9.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 67,117 shares of the shipping company’s stock worth $564,000 after buying an additional 6,012 shares during the last quarter. Norges Bank bought a new stake in Nordic American Tankers Limited during the fourth quarter worth about $5,608,000. Teachers Advisors LLC boosted its stake in Nordic American Tankers Limited by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 164,120 shares of the shipping company’s stock worth $1,379,000 after buying an additional 20,862 shares during the last quarter. Finally, Greylin Investment Mangement Inc. boosted its stake in Nordic American Tankers Limited by 1.9% in the first quarter. Greylin Investment Mangement Inc. now owns 194,225 shares of the shipping company’s stock worth $1,589,000 after buying an additional 3,600 shares during the last quarter. 26.78% of the stock is owned by hedge funds and other institutional investors.
Nordic American Tankers Limited Company Profile
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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