Nordic American Tankers (NYSE:NAT) Lowered to “Sell” Rating by StockNews.com

Nordic American Tankers (NYSE:NAT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a report on Friday, February 28th.

Nordic American Tankers Stock Down 1.2 %

NAT stock opened at $2.55 on Monday. The stock’s 50 day simple moving average is $2.63 and its 200 day simple moving average is $2.95. The company has a market cap of $532.43 million, a P/E ratio of 8.79 and a beta of -0.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. Nordic American Tankers has a fifty-two week low of $2.39 and a fifty-two week high of $4.40.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The firm had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. On average, research analysts expect that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Trust N.A. purchased a new position in Nordic American Tankers during the 3rd quarter worth $37,000. Sequoia Financial Advisors LLC bought a new position in shares of Nordic American Tankers during the fourth quarter valued at about $26,000. Summit Financial LLC purchased a new position in Nordic American Tankers during the fourth quarter worth about $32,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers in the 4th quarter worth about $33,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Nordic American Tankers in the 4th quarter valued at about $43,000. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile

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.