Nordic American Tankers (NYSE:NAT) Upgraded at StockNews.com

Nordic American Tankers (NYSE:NAT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a report on Friday, February 28th.

Nordic American Tankers Stock Up 3.3 %

Nordic American Tankers stock opened at $2.63 on Friday. The stock’s 50 day moving average price is $2.66 and its 200 day moving average price is $3.00. The company has a market cap of $548.09 million, a PE ratio of 9.05 and a beta of -0.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers has a 1-year low of $2.39 and a 1-year high of $4.40.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. On average, sell-side analysts predict that Nordic American Tankers will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordic American Tankers

A number of large investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP lifted its holdings in shares of Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after purchasing an additional 1,521,900 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Nordic American Tankers during the 4th quarter worth approximately $2,072,000. Victory Capital Management Inc. lifted its position in shares of Nordic American Tankers by 834.7% in the fourth quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock valued at $1,363,000 after acquiring an additional 486,710 shares in the last quarter. Norges Bank acquired a new stake in shares of Nordic American Tankers during the fourth quarter valued at $1,202,000. Finally, Renaissance Technologies LLC increased its position in Nordic American Tankers by 68.8% during the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock worth $2,445,000 after purchasing an additional 398,700 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.