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

Jefferies Financial Group reiterated their hold rating on shares of Nordic American Tankers (NYSE:NAT) in a report issued on Friday,Benzinga reports. The firm currently has a $3.50 price target on the shipping company’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Evercore ISI lowered their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th.

Nordic American Tankers Stock Down 6.8 %

Nordic American Tankers stock opened at $2.69 on Friday. The firm has a market capitalization of $560.62 million, a price-to-earnings ratio of 9.26 and a beta of -0.21. The firm has a 50 day simple moving average of $3.36 and a 200 day simple moving average of $3.67. Nordic American Tankers has a 1-year low of $2.63 and a 1-year high of $4.64. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period in the previous year, the business earned $0.13 earnings per share. On average, analysts predict that Nordic American Tankers will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NAT. Dimensional Fund Advisors LP grew its stake in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after buying an additional 621,588 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Nordic American Tankers by 67.6% during the 3rd quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after acquiring an additional 1,521,900 shares during the last quarter. American Century Companies Inc. grew its position in Nordic American Tankers by 40.5% in the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after acquiring an additional 1,009,096 shares in the last quarter. Vanguard Group Inc. increased its stake in Nordic American Tankers by 19.6% in the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after acquiring an additional 275,707 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Nordic American Tankers by 122.8% in the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after acquiring an additional 711,973 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors.

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.