Nordic American Tankers Limited (NAT) Stock Rating Lowered by Vetr Inc.

Nordic American Tankers Limited (NYSE:NAT) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They currently have a $9.66 target price on the stock. Vetr‘s target price would indicate a potential upside of 13.65% from the stock’s previous close.

Several other brokerages also recently issued reports on NAT. Jefferies Group reissued a “sell” rating on shares of Nordic American Tankers Limited in a research report on Monday, September 12th. Zacks Investment Research downgraded shares of Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Clarkson Capital downgraded shares of Nordic American Tankers Limited from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $10.00 in a research report on Monday, October 3rd. TheStreet downgraded shares of Nordic American Tankers Limited from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Finally, Maxim Group began coverage on shares of Nordic American Tankers Limited in a research report on Tuesday, December 20th. They set a “sell” rating and a $7.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.95.

Analyst Recommendations for Nordic American Tankers Limited (NYSE:NAT)

Shares of Nordic American Tankers Limited (NYSE:NAT) traded up 1.88% on Monday, reaching $8.66. 331,125 shares of the company traded hands. The stock has a market cap of $883.05 million, a price-to-earnings ratio of 11.93 and a beta of 1.27. The stock has a 50 day moving average of $8.80 and a 200 day moving average of $10.37. Nordic American Tankers Limited has a 52-week low of $7.57 and a 52-week high of $16.18.

Nordic American Tankers Limited (NYSE:NAT) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. Nordic American Tankers Limited had a net margin of 24.79% and a return on equity of 7.34%. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, analysts expect that Nordic American Tankers Limited will post $0.36 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in NAT. Laurion Capital Management LP purchased a new stake in shares of Nordic American Tankers Limited during the third quarter worth approximately $30,330,000. Panagora Asset Management Inc. purchased a new stake in shares of Nordic American Tankers Limited during the second quarter worth approximately $8,887,000. Allianz Asset Management AG boosted its stake in shares of Nordic American Tankers Limited by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock worth $17,002,000 after buying an additional 252,467 shares in the last quarter. Cipher Capital LP boosted its stake in shares of Nordic American Tankers Limited by 126.5% in the second quarter. Cipher Capital LP now owns 380,390 shares of the company’s stock worth $5,284,000 after buying an additional 212,444 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Nordic American Tankers Limited by 8.3% in the third quarter. BlackRock Fund Advisors now owns 2,190,395 shares of the company’s stock worth $22,145,000 after buying an additional 168,167 shares in the last quarter. Hedge funds and other institutional investors own 30.77% of the company’s stock.

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.

5 Day Chart for NYSE:NAT

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