Zacks Investment Research Lowers Nordic American Tankers Limited (NAT) to Strong Sell

Zacks Investment Research lowered shares of Nordic American Tankers Limited (NYSE:NAT) from a hold rating to a strong sell rating in a research report report published on Tuesday morning.

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

Several other research firms have also recently issued reports on NAT. Evercore ISI cut Nordic American Tankers Limited from an in-line rating to an underperform rating and cut their target price for the stock from $6.00 to $5.00 in a research note on Friday, July 21st. Maxim Group set a $5.00 target price on Nordic American Tankers Limited and gave the stock a sell rating in a research note on Saturday, July 22nd. Jefferies Group LLC reissued a sell rating and set a $5.00 target price on shares of Nordic American Tankers Limited in a research note on Monday, July 17th. TheStreet cut Nordic American Tankers Limited from a c- rating to a d+ rating in a research note on Thursday, August 10th. Finally, BidaskClub cut Nordic American Tankers Limited from a sell rating to a strong sell rating in a research note on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $6.42.

Nordic American Tankers Limited (NYSE NAT) traded up 2.47% during trading on Tuesday, hitting $5.40. The stock had a trading volume of 328,302 shares. Nordic American Tankers Limited has a 12 month low of $4.41 and a 12 month high of $9.88. The company’s 50 day moving average is $5.22 and its 200-day moving average is $6.26. The company’s market cap is $550.63 million.

Nordic American Tankers Limited (NYSE:NAT) last posted its earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $39.10 million for the quarter, compared to analyst estimates of $42.47 million. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. Nordic American Tankers Limited’s revenue was down 29.2% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. On average, equities research analysts predict that Nordic American Tankers Limited will post ($0.40) earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Nordic American Tankers Limited by 37.9% in the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Nordic American Tankers Limited in the first quarter valued at $106,000. Karp Capital Management Corp acquired a new stake in shares of Nordic American Tankers Limited in the first quarter valued at $118,000. Aperio Group LLC grew its stake in shares of Nordic American Tankers Limited by 55.2% in the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock valued at $142,000 after buying an additional 7,994 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Nordic American Tankers Limited by 44.2% in the second quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock valued at $151,000 after buying an additional 7,318 shares in the last quarter. 23.18% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Limited Company Profile

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.

Get a free copy of the Zacks research report on Nordic American Tankers Limited (NAT)

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

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

Several other research firms have also recently issued reports on NAT. Evercore ISI cut Nordic American Tankers Limited from an in-line rating to an underperform rating and cut their target price for the stock from $6.00 to $5.00 in a research note on Friday, July 21st. Maxim Group set a $5.00 target price on Nordic American Tankers Limited and gave the stock a sell rating in a research note on Saturday, July 22nd. Jefferies Group LLC reissued a sell rating and set a $5.00 target price on shares of Nordic American Tankers Limited in a research note on Monday, July 17th. TheStreet cut Nordic American Tankers Limited from a c- rating to a d+ rating in a research note on Thursday, August 10th. Finally, BidaskClub cut Nordic American Tankers Limited from a sell rating to a strong sell rating in a research note on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $6.42.

Nordic American Tankers Limited (NYSE NAT) traded up 2.47% during trading on Tuesday, hitting $5.40. The stock had a trading volume of 328,302 shares. Nordic American Tankers Limited has a 12 month low of $4.41 and a 12 month high of $9.88. The company’s 50 day moving average is $5.22 and its 200-day moving average is $6.26. The company’s market cap is $550.63 million.

Nordic American Tankers Limited (NYSE:NAT) last posted its earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $39.10 million for the quarter, compared to analyst estimates of $42.47 million. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. Nordic American Tankers Limited’s revenue was down 29.2% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. On average, equities research analysts predict that Nordic American Tankers Limited will post ($0.40) earnings per share for the current year.

WARNING: This piece was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/13/zacks-investment-research-lowers-nordic-american-tankers-limited-nat-to-strong-sell.html.

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Nordic American Tankers Limited by 37.9% in the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Nordic American Tankers Limited in the first quarter valued at $106,000. Karp Capital Management Corp acquired a new stake in shares of Nordic American Tankers Limited in the first quarter valued at $118,000. Aperio Group LLC grew its stake in shares of Nordic American Tankers Limited by 55.2% in the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock valued at $142,000 after buying an additional 7,994 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Nordic American Tankers Limited by 44.2% in the second quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock valued at $151,000 after buying an additional 7,318 shares in the last quarter. 23.18% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Limited Company Profile

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.

Get a free copy of the Zacks research report on Nordic American Tankers Limited (NAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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