Nordic American Tankers (NYSE:NAT) Stock Rating Lowered by Wall Street Zen

Nordic American Tankers (NYSE:NAT) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also recently issued reports on NAT. Weiss Ratings cut shares of Nordic American Tankers from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 28th. B. Riley Financial increased their price target on shares of Nordic American Tankers from $7.50 to $8.00 and gave the company a “buy” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nordic American Tankers presently has a consensus rating of “Hold” and a consensus price target of $5.33.

Nordic American Tankers Stock Performance

Shares of NYSE NAT opened at $8.40 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.05 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.78 billion, a P/E ratio of 14.24 and a beta of -0.56. Nordic American Tankers has a 12 month low of $3.10 and a 12 month high of $8.43. The stock has a 50 day moving average of $7.11 and a 200-day moving average of $6.22.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. Nordic American Tankers had a return on equity of 20.58% and a net margin of 47.04%.The business had revenue of $79.30 million during the quarter, compared to the consensus estimate of $84.18 million. As a group, equities research analysts predict that Nordic American Tankers will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Nordic American Tankers

Institutional investors have recently made changes to their positions in the stock. SmartHarvest Portfolios LLC lifted its position in shares of Nordic American Tankers by 18.0% during the 1st quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company’s stock valued at $80,000 after acquiring an additional 2,087 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Nordic American Tankers during the second quarter worth about $30,000. Integrated Wealth Concepts LLC bought a new stake in Nordic American Tankers during the second quarter worth about $32,000. FNY Investment Advisers LLC acquired a new stake in Nordic American Tankers during the second quarter worth about $32,000. Finally, AXQ Capital LP increased its holdings in Nordic American Tankers by 16.4% in the 2nd quarter. AXQ Capital LP now owns 51,174 shares of the shipping company’s stock valued at $284,000 after buying an additional 7,198 shares during the period. 44.29% of the stock is currently owned by institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited (NYSE: NAT) is a Bermuda-based international shipping company that owns and operates crude oil tankers. The company’s fleet is focused primarily on Suezmax vessels, which are designed to transport large quantities of crude oil and are sized to transit the Suez Canal.

Nordic American Tankers employs a combination of voyage charters, time charters and other commercial arrangements to provide crude oil transportation services to customers in the global energy industry.