Jefferies Financial Group Reaffirms Hold Rating for Nordic American Tankers (NYSE:NAT)

Nordic American Tankers (NYSE:NAT)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Financial Group in a report released on Thursday, Benzinga reports. They currently have a $4.00 price objective on the shipping company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 11.27% from the company’s current price.

A number of other brokerages have also weighed in on NAT. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Evercore ISI decreased their price objective on 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 Stock Performance

NAT stock opened at $3.60 on Thursday. Nordic American Tankers has a 1-year low of $3.31 and a 1-year high of $4.83. The business’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $3.89. The firm has a market cap of $750.62 million, a PE ratio of 11.23 and a beta of -0.19. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a return on equity of 11.56% and a net margin of 26.35%. During the same period in the previous year, the firm earned $0.13 EPS. As a group, research analysts forecast that Nordic American Tankers will post 0.41 earnings per share for the current year.

Institutional Trading of Nordic American Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of Nordic American Tankers during the 2nd quarter worth approximately $25,000. Diversify Advisory Services LLC bought a new position in shares of Nordic American Tankers during the first quarter worth approximately $41,000. B. Riley Wealth Advisors Inc. acquired a new stake in Nordic American Tankers during the 1st quarter worth approximately $45,000. SG Americas Securities LLC bought a new stake in Nordic American Tankers in the 1st quarter valued at $47,000. Finally, Bluefin Capital Management LLC acquired a new position in Nordic American Tankers in the 2nd quarter valued at $47,000. Institutional investors own 44.29% of the company’s stock.

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.