Nordic American Tanker (NYSE:NAT) PT Set at $5.00 by B. Riley

Nordic American Tanker (NYSE:NAT) received a $5.00 price objective from B. Riley in a research report issued to clients and investors on Friday, TipRanks reports. The firm currently has a “buy” rating on the shipping company’s stock. B. Riley’s price objective would suggest a potential upside of 168.82% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. ValuEngine upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Nordic American Tanker has an average rating of “Hold” and a consensus price target of $2.81.

Shares of NYSE:NAT traded up $0.10 during trading hours on Friday, hitting $1.86. The company’s stock had a trading volume of 1,582,025 shares, compared to its average volume of 1,191,347. Nordic American Tanker has a 52 week low of $1.71 and a 52 week high of $3.47. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.79 and a quick ratio of 2.22. The company has a market capitalization of $248.45 million, a price-to-earnings ratio of -3.05 and a beta of 0.62. The firm’s fifty day moving average price is $2.11 and its 200 day moving average price is $2.13.

Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings results on Friday, August 16th. The shipping company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. Nordic American Tanker had a negative net margin of 47.28% and a negative return on equity of 7.43%. The business had revenue of $30.65 million during the quarter, compared to analyst estimates of $33.65 million. On average, equities research analysts predict that Nordic American Tanker will post -0.17 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP bought a new position in shares of Nordic American Tanker during the 4th quarter worth approximately $31,000. Nisa Investment Advisors LLC acquired a new position in Nordic American Tanker during the 2nd quarter valued at approximately $113,000. Northern Trust Corp increased its stake in Nordic American Tanker by 1.9% during the 4th quarter. Northern Trust Corp now owns 1,320,810 shares of the shipping company’s stock valued at $2,642,000 after purchasing an additional 25,231 shares in the last quarter. Geode Capital Management LLC increased its stake in Nordic American Tanker by 18.6% during the 4th quarter. Geode Capital Management LLC now owns 490,347 shares of the shipping company’s stock valued at $980,000 after purchasing an additional 76,914 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Nordic American Tanker during the 1st quarter valued at approximately $112,000. Hedge funds and other institutional investors own 23.61% of the company’s stock.

About Nordic American Tanker

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

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