Nordic American Tankers Limited (NYSE:NAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
Several other equities research analysts have also recently issued reports on NAT. Jefferies Group LLC reaffirmed a “sell” rating and issued a $7.00 target price on shares of Nordic American Tankers Limited in a report on Friday, March 31st. Maxim Group reaffirmed a “sell” rating and issued a $6.00 target price on shares of Nordic American Tankers Limited in a report on Friday, April 21st. Finally, Vetr cut Nordic American Tankers Limited from a “strong-buy” rating to a “buy” rating and set a $7.08 price objective on the stock. in a research note on Monday, May 8th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. Nordic American Tankers Limited has an average rating of “Hold” and an average price target of $7.07.
Nordic American Tankers Limited (NYSE NAT) opened at 5.99 on Thursday. The company’s market capitalization is $610.79 million. The firm has a 50-day moving average price of $6.15 and a 200-day moving average price of $7.57. Nordic American Tankers Limited has a 52 week low of $5.47 and a 52 week high of $13.43.
Nordic American Tankers Limited (NYSE:NAT) last issued its earnings results on Monday, May 8th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $55.20 million during the quarter, compared to the consensus estimate of $55.53 million. During the same period last year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was down 28.0% compared to the same quarter last year. Analysts anticipate that Nordic American Tankers Limited will post ($0.21) EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. BlueCrest Capital Management Ltd acquired a new position in shares of Nordic American Tankers Limited during the first quarter valued at about $106,000. Northstar Wealth Partners LLC acquired a new position in shares of Nordic American Tankers Limited during the first quarter valued at about $110,000. Karp Capital Management Corp acquired a new position in shares of Nordic American Tankers Limited during the first quarter valued at about $118,000. Airain ltd acquired a new position in shares of Nordic American Tankers Limited during the first quarter valued at about $126,000. Finally, Aperio Group LLC raised its position in shares of 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 valued at $142,000 after buying an additional 7,994 shares during the period. 26.78% of the stock is currently owned by institutional investors.
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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