Nordic American Tankers (NYSE:NAT) Lowered to “Sell” Rating by StockNews.com

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

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

Nordic American Tankers Price Performance

Shares of NYSE:NAT opened at $2.46 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $512.59 million, a PE ratio of 8.47 and a beta of -0.31. The firm’s 50 day moving average price is $2.66 and its 200-day moving average price is $3.10. Nordic American Tankers has a twelve month low of $2.41 and a twelve month high of $4.40.

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

Institutional Investors Weigh In On Nordic American Tankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAT. Raymond James Trust N.A. purchased a new stake in shares of Nordic American Tankers in the third quarter worth $37,000. Sequoia Financial Advisors LLC bought a new position in Nordic American Tankers in the 4th quarter worth $26,000. Summit Financial LLC purchased a new stake in Nordic American Tankers in the 4th quarter worth $32,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers during the fourth quarter valued at about $33,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Nordic American Tankers in the fourth quarter valued at about $43,000. Institutional investors own 44.29% of the company’s stock.

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.