Nordic American Tankers Ltd. (NYSE:NAT) traded down 5.2% during trading on Thursday . The stock traded as low as $11.68 and last traded at $12.11, with a volume of 3,523,260 shares changing hands. The stock had previously closed at $12.78.

Several equities research analysts have commented on the stock. Vetr downgraded shares of Nordic American Tankers from a “sell” rating to a “strong sell” rating and set a $14.14 price objective on the stock. in a report on Thursday, June 9th. Jefferies Group downgraded shares of Nordic American Tankers from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $12.00 to $10.00 in a report on Tuesday, May 10th. Seaport Global Securities downgraded shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Wednesday, May 4th. Finally, Zacks Investment Research raised shares of Nordic American Tankers from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, April 27th. Three analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Nordic American Tankers presently has an average rating of “Hold” and an average target price of $14.20.

The stock has a market cap of $1.10 billion and a PE ratio of 9.45. The stock has a 50 day moving average price of $13.89 and a 200 day moving average price of $13.94.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. During the same period in the previous year, the business posted $0.34 earnings per share. On average, analysts predict that Nordic American Tankers Ltd. will post $0.97 EPS for the current year.

A number of large investors have added to or reduced their stakes in the company. WCM Investment Management CA acquired a new stake in Nordic American Tankers during the fourth quarter valued at approximately $9,111,000. Bank of Montreal Can increased 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. New York State Common Retirement Fund increased its stake in Nordic American Tankers by 4.3% in the fourth quarter. New York State Common Retirement Fund now owns 87,900 shares of the company’s stock valued at $1,366,000 after buying an additional 3,600 shares during the last quarter. California Public Employees Retirement System increased its stake in Nordic American Tankers by 7.0% in the fourth quarter. California Public Employees Retirement System now owns 204,200 shares of the company’s stock valued at $3,173,000 after buying an additional 13,400 shares during the last quarter. Finally, Rhumbline Advisers increased 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 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.

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