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

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

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

Nordic American Tankers Stock Performance

NYSE NAT opened at $2.52 on Friday. Nordic American Tankers has a twelve month low of $2.41 and a twelve month high of $4.40. The stock has a 50-day moving average of $2.66 and a 200 day moving average of $3.04. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $525.12 million, a price-to-earnings ratio of 8.67 and a beta of -0.33.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NAT. Two Sigma Advisers LP lifted its stake in Nordic American Tankers by 67.6% during the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after purchasing an additional 1,521,900 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in Nordic American Tankers during the fourth quarter worth $2,072,000. Victory Capital Management Inc. lifted its stake in Nordic American Tankers by 834.7% during the fourth quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock worth $1,363,000 after purchasing an additional 486,710 shares in the last quarter. Norges Bank acquired a new position in Nordic American Tankers during the fourth quarter worth $1,202,000. Finally, Renaissance Technologies LLC lifted its stake in Nordic American Tankers by 68.8% during the fourth quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock worth $2,445,000 after purchasing an additional 398,700 shares in the last quarter. 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.