Nordic American Tankers (NYSE:NAT) Now Covered by StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Nordic American Tankers (NYSE:NAT – Get Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the shipping company’s stock.

Several other research firms have also commented on NAT. B. Riley upped their price objective on Nordic American Tankers from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. Jefferies Financial Group increased their price target on Nordic American Tankers from $4.50 to $5.00 and gave the stock a “buy” rating in a research note on Monday, February 27th. Finally, TheStreet upgraded Nordic American Tankers from a “d+” rating to a “c” rating in a research report on Wednesday, November 30th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Nordic American Tankers presently has a consensus rating of “Moderate Buy” and an average target price of $5.25.

Nordic American Tankers Stock Down 0.5 %

Shares of Nordic American Tankers stock traded down $0.02 during midday trading on Thursday, hitting $3.68. The company had a trading volume of 6,076,428 shares, compared to its average volume of 3,659,333. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.61 and a current ratio of 1.96. The stock has a market capitalization of $711.93 million, a P/E ratio of 61.33 and a beta of 0.14. The company has a 50 day moving average of $3.53 and a 200 day moving average of $3.29. Nordic American Tankers has a 52-week low of $1.74 and a 52-week high of $4.65.

Nordic American Tankers (NYSE:NAT – Get Rating) last released its quarterly earnings data on Monday, February 27th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.05). The business had revenue of $71.10 million during the quarter, compared to the consensus estimate of $83.48 million. Nordic American Tankers had a net margin of 8.95% and a return on equity of 2.96%. During the same period last year, the company posted ($0.12) earnings per share. On average, equities analysts predict that Nordic American Tankers will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Nordic American Tankers

Institutional investors have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC bought a new stake in Nordic American Tankers in the third quarter worth about $27,000. Aigen Investment Management LP bought a new stake in Nordic American Tankers in the third quarter worth about $274,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Nordic American Tankers by 13.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 766,974 shares of the shipping company’s stock worth $2,048,000 after purchasing an additional 89,514 shares during the last quarter. Financial Architects Inc bought a new stake in Nordic American Tankers in the third quarter worth about $115,000. Finally, WealthTrust Axiom LLC lifted its stake in Nordic American Tankers by 3.9% in the third quarter. WealthTrust Axiom LLC now owns 463,189 shares of the shipping company’s stock worth $1,236,000 after purchasing an additional 17,222 shares during the last quarter. Institutional investors own 40.41% of the company’s stock.

Nordic American Tankers Company Profile

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Nordic American Tankers Ltd. operates as an international tanker company. It owns and operates Suezmax crude oil tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.