Nordic American Tankers (NYSE:NAT - Get Free Report)'s stock had its "hold" rating restated by Jefferies Financial Group in a research report issued on Thursday,Benzinga reports. They presently have a $3.00 price target on the shipping company's stock. Jefferies Financial Group's price objective would indicate a potential upside of 10.50% from the stock's previous close.
Separately, Wall Street Zen downgraded Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Wednesday, April 9th.
Get Our Latest Research Report on NAT
Nordic American Tankers Stock Up 2.5%
NYSE NAT traded up $0.07 during trading hours on Thursday, reaching $2.72. 2,819,016 shares of the company's stock traded hands, compared to its average volume of 2,526,374. Nordic American Tankers has a 52-week low of $2.13 and a 52-week high of $4.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The firm has a 50-day simple moving average of $2.54 and a 200 day simple moving average of $2.62. The firm has a market cap of $574.90 million, a PE ratio of 9.36 and a beta of -0.27.
Nordic American Tankers (NYSE:NAT - Get Free Report) last released its earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $46.39 million for the quarter, compared to analysts' expectations of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. Sell-side 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 institutional investors have recently made changes to their positions in NAT. Sequoia Financial Advisors LLC bought a new position in Nordic American Tankers during the fourth quarter valued at approximately $26,000. Summit Financial LLC bought a new position in shares of Nordic American Tankers during the 4th quarter valued at $32,000. Avantax Advisory Services Inc. purchased a new position in shares of Nordic American Tankers in the 4th quarter worth $33,000. Red Door Wealth Management LLC purchased a new position in shares of Nordic American Tankers in the 1st quarter worth $39,000. Finally, AXQ Capital LP bought a new stake in shares of Nordic American Tankers in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 44.29% of the company's stock.
About Nordic American Tankers
(
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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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