Nordic American Tankers (NYSE:NAT) Cut to “Sell” at StockNews.com

Nordic American Tankers (NYSE:NAT) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other research analysts have also recently commented on NAT. Jefferies Financial Group reaffirmed a “hold” rating and issued a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th. Evercore ISI reduced their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th.

Nordic American Tankers Stock Down 2.6 %

Shares of NAT stock opened at $2.98 on Thursday. Nordic American Tankers has a 12 month low of $2.95 and a 12 month high of $4.64. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The firm has a market cap of $622.22 million, a PE ratio of 10.28 and a beta of -0.21. The stock has a 50 day moving average of $3.49 and a 200-day moving average of $3.74.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The firm had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same period in the prior year, the firm earned $0.13 EPS. On average, equities analysts predict that Nordic American Tankers will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Nordic American Tankers by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after buying an additional 621,588 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after acquiring an additional 1,521,900 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Nordic American Tankers by 40.5% during the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after purchasing an additional 1,009,096 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Nordic American Tankers by 19.6% during the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 275,707 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Nordic American Tankers by 122.8% in the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after purchasing an additional 711,973 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.