Nordic American Tankers Ltd. (NYSE:NAT) dropped 1.7% during trading on Wednesday . The stock traded as low as $13.51 and last traded at $13.63, with a volume of 970,932 shares. The stock had previously closed at $13.86.

NAT has been the subject of several research reports. ABN Amro lowered Nordic American Tankers from a “buy” rating to a “sell” rating in a research note on Thursday, June 30th. Vetr upgraded Nordic American Tankers from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, June 29th. Zacks Investment Research lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, March 9th. Finally, Jefferies Group lowered Nordic American Tankers from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $12.00 to $10.00 in a research note on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Nordic American Tankers currently has a consensus rating of “Hold” and an average target price of $14.38.

The company has a market capitalization of $1.22 billion and a price-to-earnings ratio of 10.48. The stock’s 50 day moving average price is $14.59 and its 200-day moving average price is $14.11.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Monday, May 9th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. During the same period last year, the company earned $0.34 EPS. Equities research analysts predict that Nordic American Tankers Ltd. will post $1.21 EPS for the current fiscal year.

Several hedge funds and institutional investors recently modified their holdings of NAT. Robeco Institutional Asset Management B.V. increased its position in shares of Nordic American Tankers by 467.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,520,178 shares of the company’s stock valued at $23,623,000 after buying an additional 1,252,220 shares in the last quarter. Bank of Montreal Can boosted its stake in Nordic American Tankers by 284.5% in the fourth quarter. Bank of Montreal Can now owns 164,224 shares of the company’s stock valued at $2,552,000 after buying an additional 121,509 shares during the last quarter. WCM Investment Management CA purchased a new stake in Nordic American Tankers during the fourth quarter valued at approximately $9,111,000. California State Teachers Retirement System boosted its stake in Nordic American Tankers by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 165,265 shares of the company’s stock valued at $2,568,000 after buying an additional 2,586 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Nordic American Tankers by 1.9% in the fourth quarter. Rhumbline Advisers now owns 117,110 shares of the company’s stock valued at $1,820,000 after buying an additional 2,160 shares during the last quarter.

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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