Nordic American Tankers (NYSE:NAT) Reaches New 12-Month High – Should You Buy?

Nordic American Tankers Limited (NYSE:NAT) shares hit a new 52-week high during trading on Monday . The company traded as high as $4.93 and last traded at $4.8850, with a volume of 7570 shares trading hands. The stock had previously closed at $4.93.

Analyst Ratings Changes

NAT has been the subject of several recent research reports. Wall Street Zen upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 28th. Finally, Evercore boosted their price target on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.25.

Nordic American Tankers Stock Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.64 and a current ratio of 1.95. The company has a market cap of $1.06 billion, a P/E ratio of 249.87 and a beta of -0.43. The firm has a 50 day moving average price of $4.01 and a 200-day moving average price of $3.60.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%.The company had revenue of $40.18 million during the quarter, compared to analyst estimates of $52.89 million. On average, research analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors have recently made changes to their positions in NAT. Savant Capital LLC bought a new stake in Nordic American Tankers during the 2nd quarter valued at approximately $28,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Nordic American Tankers in the third quarter valued at approximately $32,000. BlueStem Wealth Partners LLC acquired a new stake in shares of Nordic American Tankers in the third quarter worth $32,000. HBK Sorce Advisory LLC bought a new position in Nordic American Tankers during the third quarter worth $33,000. Finally, Torren Management LLC acquired a new position in Nordic American Tankers during the 4th quarter valued at $34,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.