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

Nordic American Tankers (NYSE:NAT)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Financial Group in a research note issued on Friday,Benzinga reports. They currently have a $3.50 target price on the shipping company’s stock. Jefferies Financial Group’s target price indicates a potential downside of 7.04% from the company’s current price.

Other equities analysts have also issued reports about the stock. Wall Street Zen lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Evercore ISI increased their price target on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nordic American Tankers in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nordic American Tankers currently has an average rating of “Hold” and an average price target of $3.25.

Nordic American Tankers Price Performance

Nordic American Tankers stock opened at $3.77 on Friday. The business’s 50-day simple moving average is $3.50 and its 200 day simple moving average is $3.07. The company has a quick ratio of 2.04, a current ratio of 2.33 and a debt-to-equity ratio of 0.84. The stock has a market cap of $797.24 million, a price-to-earnings ratio of 53.79 and a beta of -0.36. Nordic American Tankers has a 12-month low of $2.13 and a 12-month high of $3.93.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $40.15 million for the quarter, compared to analyst estimates of $53.35 million. Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. As a group, research analysts anticipate that Nordic American Tankers will post 0.24 earnings per share for the current year.

Institutional Trading of Nordic American Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its position in shares of Nordic American Tankers by 5.1% in the first quarter. Cetera Investment Advisers now owns 292,146 shares of the shipping company’s stock worth $719,000 after purchasing an additional 14,100 shares in the last quarter. XTX Topco Ltd increased its stake in Nordic American Tankers by 46.5% in the 1st quarter. XTX Topco Ltd now owns 78,086 shares of the shipping company’s stock valued at $192,000 after buying an additional 24,774 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Nordic American Tankers by 312.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock worth $54,000 after buying an additional 16,644 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Nordic American Tankers by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 502,148 shares of the shipping company’s stock worth $1,235,000 after buying an additional 12,781 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Nordic American Tankers in the 1st quarter valued at about $3,150,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.