Nordic American Tankers (NYSE:NAT) Lowered to “Sell” at Zacks Investment Research

Nordic American Tankers (NYSE:NATGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Nordic American Tankers operates one of the largest fleets of Suezmax tankers in the world. The fleet consists of 24 Suezmax tankers, including 2 newbuilds. “

NAT stock opened at $2.79 on Thursday. Nordic American Tankers has a 1-year low of $1.40 and a 1-year high of $3.81. The business has a fifty day moving average price of $2.12 and a 200-day moving average price of $2.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.59 and a quick ratio of 1.28. The stock has a market capitalization of $539.75 million, a P/E ratio of -3.82 and a beta of 0.21.

Nordic American Tankers (NYSE:NATGet Rating) last posted its quarterly earnings results on Friday, February 25th. The shipping company reported ($0.12) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.12). Nordic American Tankers had a negative return on equity of 19.85% and a negative net margin of 176.94%. The firm had revenue of $22.63 million during the quarter, compared to analysts’ expectations of $26.78 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. As a group, analysts anticipate that Nordic American Tankers will post -0.32 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of NAT. Morgan Stanley increased its position in Nordic American Tankers by 0.7% during the second quarter. Morgan Stanley now owns 4,821,958 shares of the shipping company’s stock valued at $15,817,000 after acquiring an additional 34,845 shares during the last quarter. Kestra Advisory Services LLC increased its position in Nordic American Tankers by 26.7% during the third quarter. Kestra Advisory Services LLC now owns 19,121 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 4,025 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Nordic American Tankers by 22.8% during the third quarter. Commonwealth Equity Services LLC now owns 391,901 shares of the shipping company’s stock valued at $1,003,000 after acquiring an additional 72,764 shares during the last quarter. SG Americas Securities LLC increased its position in Nordic American Tankers by 486.2% during the third quarter. SG Americas Securities LLC now owns 91,311 shares of the shipping company’s stock valued at $234,000 after acquiring an additional 75,734 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Nordic American Tankers during the third quarter valued at $610,000. Institutional investors own 28.96% of the company’s stock.

About Nordic American Tankers (Get Rating)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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