Nordic American Tankers (NYSE:NAT) Raised to “Hold” at StockNews.com

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

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

Get Our Latest Stock Analysis on NAT

Nordic American Tankers Trading Up 3.3 %

Shares of NYSE:NAT opened at $2.63 on Friday. Nordic American Tankers has a 52 week low of $2.39 and a 52 week high of $4.40. The company’s 50 day moving average is $2.66 and its two-hundred day moving average 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 current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NATGet Free Report) last posted its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. Equities analysts predict that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of Nordic American Tankers

Large investors have recently made changes to their positions in the company. Raymond James Trust N.A. purchased a new stake in Nordic American Tankers in the third quarter valued at approximately $37,000. Sequoia Financial Advisors LLC purchased a new stake in Nordic American Tankers in the 4th quarter valued at $26,000. Summit Financial LLC purchased a new stake in Nordic American Tankers in the 4th quarter valued at $32,000. Avantax Advisory Services Inc. acquired a new stake in Nordic American Tankers during the 4th quarter worth $33,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Nordic American Tankers during the 4th quarter worth $43,000. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

(Get Free Report)

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.

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