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

Nordic American Tankers (NYSE:NAT)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Financial Group in a note issued to investors on Friday,Benzinga reports. They currently have a $3.00 price objective on the shipping company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 21.21% from the stock’s current price.

Separately, StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday.

Nordic American Tankers Trading Up 0.6 %

NYSE NAT traded up $0.02 on Friday, hitting $2.48. The company’s stock had a trading volume of 754,838 shares, compared to its average volume of 2,780,396. Nordic American Tankers has a 52-week low of $2.41 and a 52-week high of $4.40. The company’s 50-day simple moving average is $2.66 and its 200 day simple moving average is $3.10. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The firm has a market cap of $516.77 million, a P/E ratio of 8.50 and a beta of -0.31.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Friday, November 29th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. Research analysts predict that Nordic American Tankers will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordic American Tankers

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