Nordic American Tankers (NYSE:NAT) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "hold (c)" rating for Nordic American Tankers (NYSE:NAT), indicating analysts' cautious outlook on the stock.
• The company's earnings report revealed a loss of ($0.02) per share for the quarter, falling short of estimates and generating revenue of $40.15 million against expectations of $53.35 million.
• Nordic American Tankers' stock price recently traded at $3.30, with a consensus price target of $3.00 and a market capitalization of approximately $697.72 million.

Nordic American Tankers (NYSE:NAT - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also weighed in on NAT. Jefferies Financial Group reaffirmed a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, August 28th. Wall Street Zen lowered Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $3.00.

Nordic American Tankers Stock Performance

Shares of NYSE:NAT traded up $0.06 during trading on Wednesday, reaching $3.30. The company had a trading volume of 262,623 shares, compared to its average volume of 2,547,689. The firm has a market capitalization of $697.72 million, a price-to-earnings ratio of 47.21 and a beta of -0.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.33 and a quick ratio of 2.04. The stock's fifty day moving average price is $3.09 and its 200 day moving average price is $2.79. Nordic American Tankers has a fifty-two week low of $2.13 and a fifty-two week high of $3.69.

Nordic American Tankers (NYSE:NAT - Get Free Report) last released its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The company had revenue of $40.15 million during the quarter, compared to analyst estimates of $53.35 million. Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. As a group, equities research analysts predict that Nordic American Tankers will post 0.24 EPS for the current year.

Institutional Trading of Nordic American Tankers

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its position in shares of Nordic American Tankers by 8.3% in the second quarter. SBI Securities Co. Ltd. now owns 44,932 shares of the shipping company's stock valued at $118,000 after acquiring an additional 3,445 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Nordic American Tankers by 19.4% in the first quarter. Russell Investments Group Ltd. now owns 23,886 shares of the shipping company's stock valued at $59,000 after acquiring an additional 3,875 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Nordic American Tankers by 33.7% in the second quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company's stock valued at $42,000 after purchasing an additional 3,998 shares during the last quarter. Prospera Financial Services Inc increased its stake in Nordic American Tankers by 21.4% in the second quarter. Prospera Financial Services Inc now owns 24,680 shares of the shipping company's stock valued at $65,000 after purchasing an additional 4,343 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake in Nordic American Tankers by 3.2% in the second quarter. Osaic Holdings Inc. now owns 164,701 shares of the shipping company's stock valued at $433,000 after purchasing an additional 5,133 shares during the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nordic American Tankers

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.

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