Nordic American Tanker (NYSE:NAT) Stock Price Up 5.7% Following Better-Than-Expected Earnings
Nordic American Tanker Ltd (NYSE:NAT)’s share price rose 5.7% on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $1.93 and last traded at $1.86, approximately 1,582,020 shares traded hands during trading. An increase of 33% from the average daily volume of 1,191,347 shares. The stock had previously closed at $1.76.
The shipping company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. The business had revenue of $30.65 million for the quarter, compared to analysts’ expectations of $33.65 million. Nordic American Tanker had a negative net margin of 47.28% and a negative return on equity of 7.43%.
A number of research firms have recently issued reports on NAT. Zacks Investment Research raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. ValuEngine raised shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, B. Riley set a $5.00 price objective on shares of Nordic American Tanker and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $2.81.
The firm has a market cap of $248.45 million, a P/E ratio of -3.05 and a beta of 0.62. The company has a current ratio of 2.79, a quick ratio of 2.22 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average is $2.11 and its two-hundred day moving average is $2.13.
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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