Nordic American Tankers (NYSE:NAT) Given New $3.50 Price Target at Jefferies Financial Group

Nordic American Tankers (NYSE:NAT) had its price target lowered by investment analysts at Jefferies Financial Group from $4.00 to $3.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the shipping company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 17.45% from the stock’s current price.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday. Evercore ISI reduced their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th.

Nordic American Tankers Stock Down 2.6 %

Shares of NAT stock opened at $2.98 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The stock has a market cap of $622.22 million, a PE ratio of 10.28 and a beta of -0.21. The business’s fifty day moving average is $3.49 and its 200-day moving average is $3.74. Nordic American Tankers has a 1 year low of $2.95 and a 1 year high of $4.64.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The firm had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. During the same period in the previous year, the business earned $0.13 earnings per share. Equities analysts expect that Nordic American Tankers will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NAT. ProShare Advisors LLC lifted its position in Nordic American Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock worth $145,000 after acquiring an additional 2,904 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Nordic American Tankers by 6.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock valued at $185,000 after purchasing an additional 3,003 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Nordic American Tankers by 50.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after buying an additional 5,347 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Nordic American Tankers in the 2nd quarter valued at approximately $25,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in Nordic American Tankers by 26.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock worth $122,000 after buying an additional 6,940 shares during the period. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.