Nordic American Tankers (NYSE:NAT) Earns Hold Rating from Jefferies Financial Group

Nordic American Tankers (NYSE:NAT)‘s stock had its “hold” rating reaffirmed by 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 price target indicates a potential downside of 3.58% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Evercore ISI boosted their price target 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $3.63 on Friday. Nordic American Tankers has a 1-year low of $2.13 and a 1-year high of $3.93. The company has a fifty day moving average price of $3.51 and a 200 day moving average price of $3.08. The company has a current ratio of 2.33, a quick ratio of 2.04 and a debt-to-equity ratio of 0.84. The firm has a market cap of $768.66 million, a PE ratio of 51.86 and a beta of -0.36.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Friday, December 5th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $40.18 million during the quarter, compared to the consensus estimate of $52.89 million. Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. Research analysts predict that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlueStem Wealth Partners LLC bought a new stake in shares of Nordic American Tankers in the third quarter valued at approximately $32,000. HBK Sorce Advisory LLC purchased a new position in Nordic American Tankers in the 3rd quarter valued at approximately $33,000. Vanguard Personalized Indexing Management LLC bought a new stake in Nordic American Tankers during the 3rd quarter valued at $32,000. Savant Capital LLC purchased a new stake in shares of Nordic American Tankers during the second quarter worth $28,000. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Nordic American Tankers during the third quarter worth $37,000. Institutional investors own 44.29% of the company’s stock.

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.