Nordic American Tankers (NYSE:NAT – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
NAT has been the topic of several other research reports. Evercore ISI cut their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th. Jefferies Financial Group reiterated a “hold” rating and set a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th.
Get Our Latest Stock Analysis on NAT
Nordic American Tankers Trading Down 2.4 %
Nordic American Tankers (NYSE:NAT – Get Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The company had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same period last year, the company earned $0.13 earnings per share. As a group, analysts predict that Nordic American Tankers will post 0.32 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of NAT. ProShare Advisors LLC lifted its stake in Nordic American Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after acquiring an additional 2,904 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Nordic American Tankers by 6.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock worth $185,000 after purchasing an additional 3,003 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Nordic American Tankers by 50.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock worth $66,000 after purchasing an additional 5,347 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Nordic American Tankers in the 2nd quarter valued at about $25,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Nordic American Tankers by 26.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock worth $122,000 after buying an additional 6,940 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.
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.
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