Nordic American Tankers (NYSE:NAT) Downgraded to Sell Rating by Wall Street Zen

Nordic American Tankers (NYSE:NAT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Separately, Jefferies Financial Group reaffirmed a "hold" rating and set a $3.00 target price on shares of Nordic American Tankers in a research note on Thursday, May 29th.

Nordic American Tankers Stock Performance

Shares of NYSE:NAT opened at $2.73 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.53. Nordic American Tankers has a 12 month low of $2.13 and a 12 month high of $3.83. The company has a market capitalization of $577.02 million, a price-to-earnings ratio of 16.03 and a beta of -0.19. The firm's 50-day moving average is $2.72 and its 200 day moving average is $2.63.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Nordic American Tankers during the 4th quarter valued at about $94,000. Commonwealth Equity Services LLC increased its position in shares of Nordic American Tankers by 33.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 438,641 shares of the shipping company's stock worth $1,097,000 after acquiring an additional 109,093 shares during the period. Xponance Inc. raised its stake in shares of Nordic American Tankers by 41.4% during the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company's stock valued at $46,000 after acquiring an additional 5,439 shares in the last quarter. Norges Bank purchased a new stake in shares of Nordic American Tankers in the fourth quarter valued at approximately $1,202,000. Finally, Summit Financial LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter valued at approximately $32,000. 44.29% of the stock is currently owned by 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.

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