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

Nordic American Tankers (NYSE:NAT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research report on Friday, February 28th.

Nordic American Tankers Stock Down 1.2 %

NYSE:NAT opened at $2.55 on Monday. Nordic American Tankers has a one year low of $2.39 and a one year high of $4.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The company has a market cap of $532.43 million, a PE ratio of 8.79 and a beta of -0.33. The firm’s 50 day simple moving average is $2.63 and its 200 day simple moving average is $2.95.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. On average, research analysts anticipate that Nordic American Tankers will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Nordic American Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in shares of Nordic American Tankers in the 4th quarter worth about $26,000. Summit Financial LLC acquired a new position in Nordic American Tankers in the fourth quarter valued at approximately $32,000. Avantax Advisory Services Inc. acquired a new position in Nordic American Tankers in the fourth quarter valued at approximately $33,000. Raymond James Trust N.A. bought a new position in shares of Nordic American Tankers during the 3rd quarter worth approximately $37,000. Finally, AXQ Capital LP acquired a new stake in shares of Nordic American Tankers during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds 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.