Zacks Investment Research Upgrades Nordic American Tankers (NAT) to Hold

Nordic American Tankers (NYSE:NAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “

Several other analysts also recently weighed in on NAT. Maxim Group set a $4.00 target price on shares of Nordic American Tankers and gave the company a “sell” rating in a report on Monday, August 7th. TheStreet downgraded shares of Nordic American Tankers from a “c-” rating to a “d+” rating in a report on Thursday, August 10th. Finally, Morgan Stanley dropped their target price on shares of Nordic American Tankers from $6.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $5.67.

Shares of Nordic American Tankers (NAT) opened at $3.99 on Friday. Nordic American Tankers has a 1-year low of $3.93 and a 1-year high of $9.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.69 and a quick ratio of 3.87.

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in shares of Nordic American Tankers by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after purchasing an additional 4,454 shares during the last quarter. Aperio Group LLC lifted its position in shares of Nordic American Tankers by 55.2% during the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after purchasing an additional 7,994 shares during the last quarter. Sigma Planning Corp lifted its position in shares of Nordic American Tankers by 44.2% during the 2nd quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock worth $151,000 after purchasing an additional 7,318 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nordic American Tankers during the 3rd quarter worth $158,000. Finally, Airain ltd lifted its position in shares of Nordic American Tankers by 79.8% during the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock worth $175,000 after purchasing an additional 12,256 shares during the last quarter. 23.68% of the stock is owned by institutional investors.

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About Nordic American Tankers

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.

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