Nordic American Tankers Limited (NYSE:NAT) shot up 7.9% during mid-day trading on Monday . The company traded as high as $5.77 and last traded at $5.76. 1,563,784 shares traded hands during mid-day trading, an increase of 57% from the average session volume of 998,736 shares. The stock had previously closed at $5.34.

NAT has been the subject of several recent analyst reports. BidaskClub downgraded shares of Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. TheStreet lowered Nordic American Tankers Limited from a “c-” rating to a “d+” rating in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 price objective on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. Finally, Maxim Group set a $4.00 target price on Nordic American Tankers Limited and gave the stock a “sell” rating in a research note on Monday, August 7th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $6.42.

The company’s 50-day moving average is $5.14 and its 200-day moving average is $6.37. The stock’s market cap is $577.14 million.

Nordic American Tankers Limited (NYSE:NAT) last posted its quarterly earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The company had revenue of $39.10 million for the quarter, compared to the consensus estimate of $42.47 million. During the same quarter in the previous year, the company posted $0.15 EPS. Nordic American Tankers Limited’s quarterly revenue was down 29.2% compared to the same quarter last year. On average, analysts expect that Nordic American Tankers Limited will post ($0.39) EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new stake in shares of Nordic American Tankers Limited in the 2nd quarter worth approximately $479,000. State Street Corp lifted its stake in Nordic American Tankers Limited by 6.9% in the second quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after purchasing an additional 114,052 shares during the last quarter. Shelton Capital Management lifted its stake in Nordic American Tankers Limited by 33.3% in the second quarter. Shelton Capital Management now owns 200,000 shares of the shipping company’s stock valued at $1,268,000 after purchasing an additional 50,000 shares during the last quarter. Voya Investment Management LLC grew its holdings in Nordic American Tankers Limited by 14.0% during the second quarter. Voya Investment Management LLC now owns 46,032 shares of the shipping company’s stock valued at $292,000 after purchasing an additional 5,659 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Nordic American Tankers Limited by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 411,778 shares of the shipping company’s stock valued at $2,611,000 after purchasing an additional 3,425 shares during the period. Institutional investors own 23.18% of the company’s stock.

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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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