Nordic American Tankers (NYSE:NAT) Cut to Sell at Wall Street Zen

Nordic American Tankers (NYSE:NAT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday. Finally, Evercore ISI increased their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Trading Down 0.4%

NYSE NAT opened at $3.37 on Friday. The company has a market capitalization of $712.54 million, a PE ratio of 168.33 and a beta of -0.45. The company has a fifty day moving average of $3.59 and a 200 day moving average of $3.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.95 and a quick ratio of 1.64. Nordic American Tankers has a 1 year low of $2.13 and a 1 year high of $3.93.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. The firm had revenue of $40.18 million for the quarter, compared to analysts’ expectations of $52.89 million. Research analysts forecast that Nordic American Tankers will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Nordic American Tankers

Several institutional investors have recently made changes to their positions in NAT. Nuveen LLC acquired a new stake in shares of Nordic American Tankers in the first quarter valued at about $3,150,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Nordic American Tankers by 61.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company’s stock valued at $10,644,000 after buying an additional 1,648,496 shares in the last quarter. Jump Financial LLC lifted its position in shares of Nordic American Tankers by 44.7% during the 1st quarter. Jump Financial LLC now owns 264,617 shares of the shipping company’s stock valued at $651,000 after acquiring an additional 81,724 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Nordic American Tankers by 33.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 3,998 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nordic American Tankers by 48.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,436 shares of the shipping company’s stock worth $101,000 after acquiring an additional 12,178 shares in the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.