Jefferies Financial Group Lowers Nordic American Tankers (NYSE:NAT) Price Target to $4.00

Nordic American Tankers (NYSE:NAT) had its price target dropped by stock analysts at Jefferies Financial Group from $5.00 to $4.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 7.53% from the stock’s current price.

Separately, StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th.

Nordic American Tankers Trading Up 1.9 %

Nordic American Tankers stock opened at $3.72 on Thursday. The stock has a 50-day moving average price of $3.73 and a 200 day moving average price of $3.93. The company has a market capitalization of $776.72 million, a price-to-earnings ratio of 11.63 and a beta of -0.16. Nordic American Tankers has a 52 week low of $3.31 and a 52 week high of $4.83. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $60.57 million for the quarter, compared to analysts’ expectations of $66.19 million. Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. Sell-side analysts anticipate that Nordic American Tankers will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Nordic American Tankers

Several hedge funds have recently bought and sold shares of NAT. ProShare Advisors LLC grew its position in shares of Nordic American Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after acquiring an additional 2,904 shares during the period. Quadrant Capital Group LLC grew its holdings in Nordic American Tankers by 22.9% in the fourth quarter. Quadrant Capital Group LLC now owns 16,057 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 2,990 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in Nordic American Tankers by 6.9% in the second 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. Pettinga Financial Advisors LLC increased its position in shares of Nordic American Tankers by 38.3% in the first quarter. Pettinga Financial Advisors LLC now owns 15,900 shares of the shipping company’s stock valued at $62,000 after buying an additional 4,400 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Nordic American Tankers by 50.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock worth $66,000 after buying an additional 5,347 shares during the period. Hedge funds and other 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.