Nordic American Tankers (NYSE:NAT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Nordic American Tankers (NYSE:NAT) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a report on Friday, November 29th.

Nordic American Tankers Stock Performance

Shares of NYSE NAT opened at $2.46 on Thursday. The company has a market cap of $512.59 million, a P/E ratio of 8.47 and a beta of -0.31. Nordic American Tankers has a 52-week low of $2.41 and a 52-week high of $4.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The firm’s fifty day moving average is $2.66 and its two-hundred day moving average is $3.10.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Friday, November 29th. The shipping company reported $0.04 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%. As a group, analysts anticipate that Nordic American Tankers will post 0.24 EPS for the current fiscal year.

Institutional Trading of Nordic American Tankers

A number of large investors have recently made changes to their positions in the business. Raymond James Trust N.A. purchased a new position in Nordic American Tankers in the third quarter worth about $37,000. Sequoia Financial Advisors LLC bought a new stake in shares of Nordic American Tankers in the 4th quarter valued at approximately $26,000. Summit Financial LLC bought a new stake in shares of Nordic American Tankers in the 4th quarter valued at approximately $32,000. Avantax Advisory Services Inc. purchased a new position in shares of Nordic American Tankers in the 4th quarter worth approximately $33,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Nordic American Tankers during the 4th quarter valued at approximately $43,000. 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.