Nordic American Tankers Limited (NYSE:NAT) was downgraded by research analysts at Evercore ISI to an “underperform” rating in a research report issued on Friday.
Other equities research analysts also recently issued reports about the company. Vetr downgraded Nordic American Tankers Limited from a “strong-buy” rating to a “buy” rating and set a $6.89 price objective for the company. in a report on Thursday, June 1st. Jefferies Group LLC reiterated a “sell” rating and issued a $5.00 price objective (down from $7.00) on shares of Nordic American Tankers Limited in a report on Monday, May 8th. Maxim Group cut their price target on Nordic American Tankers Limited from $6.00 to $5.00 and set a “sell” rating for the company in a research note on Monday, May 8th. Finally, Zacks Investment Research downgraded Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.42.
Nordic American Tankers Limited (NAT) opened at 6.21 on Friday. The company has a 50 day moving average of $6.15 and a 200-day moving average of $7.57. Nordic American Tankers Limited has a one year low of $5.47 and a one year high of $13.43. The stock’s market capitalization is $633.23 million.
Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings data on Monday, May 8th. The shipping company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by $0.04. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The business had revenue of $55.20 million during the quarter, compared to the consensus estimate of $55.53 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. Nordic American Tankers Limited’s quarterly revenue was down 28.0% compared to the same quarter last year. Equities research analysts predict that Nordic American Tankers Limited will post ($0.21) earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd purchased a new stake in Nordic American Tankers Limited during the first quarter worth about $106,000. Northstar Wealth Partners LLC purchased a new stake in Nordic American Tankers Limited during the first quarter worth about $110,000. Karp Capital Management Corp purchased a new stake in Nordic American Tankers Limited during the first quarter worth about $118,000. Airain ltd purchased a new stake in Nordic American Tankers Limited during the first quarter worth about $126,000. Finally, Aperio Group LLC increased its stake in Nordic American Tankers Limited by 55.2% in the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after buying an additional 7,994 shares in the last quarter. Institutional investors and hedge funds own 26.78% of the company’s stock.
About Nordic American Tankers Limited
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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