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

Nordic American Tankers (NYSE:NAT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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

Nordic American Tankers Stock Down 1.0 %

Shares of NYSE NAT opened at $2.52 on Friday. The stock has a market cap of $525.12 million, a P/E ratio of 8.67 and a beta of -0.33. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 12-month low of $2.41 and a 12-month high of $4.40. The business’s fifty day simple moving average is $2.66 and its 200-day simple moving average is $3.04.

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

Institutional Trading of Nordic American Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of NAT. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Nordic American Tankers by 26.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock worth $122,000 after purchasing an additional 6,940 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of Nordic American Tankers during the 3rd quarter valued at approximately $108,000. Apollon Wealth Management LLC raised its position in shares of Nordic American Tankers by 268.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 122,991 shares of the shipping company’s stock worth $451,000 after purchasing an additional 89,577 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Nordic American Tankers by 135.1% during the 3rd quarter. Victory Capital Management Inc. now owns 58,309 shares of the shipping company’s stock worth $214,000 after purchasing an additional 33,507 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Nordic American Tankers in the 3rd quarter worth approximately $186,000. 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.