Nordic American Tankers’ (NAT) “Hold” Rating Reaffirmed at Jefferies Financial Group

Nordic American Tankers (NYSE:NAT)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Financial Group in a research note issued on Friday,Benzinga reports. They currently have a $3.50 price objective on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 29.63% from the stock’s current price.

Several other research analysts have also commented on the stock. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Evercore ISI decreased their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th.

Nordic American Tankers Trading Down 6.2 %

NYSE:NAT traded down $0.18 during midday trading on Friday, reaching $2.70. 2,917,537 shares of the stock traded hands, compared to its average volume of 2,503,244. The company has a fifty day moving average of $3.38 and a 200 day moving average of $3.68. Nordic American Tankers has a 12 month low of $2.68 and a 12 month high of $4.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The stock has a market capitalization of $563.76 million, a P/E ratio of 9.35 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The company had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. During the same period in the prior year, the business posted $0.13 EPS. On average, research analysts predict that Nordic American Tankers will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in shares of Nordic American Tankers in the 2nd quarter worth about $25,000. Raymond James Trust N.A. bought a new position in shares of Nordic American Tankers in the 3rd quarter worth about $37,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Nordic American Tankers in the 1st quarter worth about $45,000. Bluefin Capital Management LLC bought a new position in shares of Nordic American Tankers in the 2nd quarter worth about $47,000. Finally, Caprock Group LLC bought a new position in shares of Nordic American Tankers in the 2nd quarter worth about $55,000. 44.29% of the stock is currently owned by institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.