Nordic American Tankers (NYSE:NAT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Nordic American Tankers to “strong buy” from “buy,” while B. Riley raised its price target to $8.00 from $7.50. Despite this, the broader analyst consensus remains “Hold,” with an average target of $5.33.
• Nordic American Tankers reported quarterly EPS of $0.32, beating the $0.23 consensus estimate, although revenue of $79.3 million fell short of the $84.18 million forecast.
• The stock opened at $6.76 and has traded between $3.00 and $7.20 over the past year; institutional investors own approximately 44.29% of the company.

Nordic American Tankers (NYSE:NAT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

Separately, B. Riley Financial boosted their price objective on shares of Nordic American Tankers from $7.50 to $8.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $5.33.

Nordic American Tankers Price Performance

NYSE:NAT opened at $6.76 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00. The firm has a market cap of $1.43 billion, a P/E ratio of 25.04 and a beta of -0.57. Nordic American Tankers has a fifty-two week low of $3.00 and a fifty-two week high of $7.20. The firm has a 50-day simple moving average of $6.35 and a two-hundred day simple moving average of $5.77.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $79.30 million for the quarter, compared to the consensus estimate of $84.18 million. Analysts predict that Nordic American Tankers will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Nordic American Tankers

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Nordic American Tankers during the second quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new stake in Nordic American Tankers in the 2nd quarter worth approximately $32,000. Torren Management LLC bought a new stake in Nordic American Tankers in the 4th quarter worth approximately $34,000. ROI Financial Advisors LLC purchased a new stake in Nordic American Tankers during the 4th quarter valued at $36,000. Finally, Parkside Financial Bank & Trust raised its stake in Nordic American Tankers by 2,800.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company's stock valued at $37,000 after buying an additional 10,500 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors.

About Nordic American Tankers

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.

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