Nordic American Tankers (NYSE:NAT) Price Target Cut to $4.00

Nordic American Tankers (NYSE:NAT) had its target price dropped by equities research analysts at Evercore ISI from $4.50 to $4.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “in-line” rating on the shipping company’s stock. Evercore ISI’s price target points to a potential upside of 9.44% from the stock’s previous close.

Several other research firms also recently weighed in on NAT. Jefferies Financial Group decreased their price target on shares of Nordic American Tankers from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th.

Nordic American Tankers Stock Performance

NAT opened at $3.66 on Friday. The firm’s fifty day simple moving average is $3.74 and its two-hundred day simple moving average is $3.93. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. The company has a market cap of $763.15 million, a price-to-earnings ratio of 11.42 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.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). The business had revenue of $60.57 million during 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%. Equities analysts anticipate that Nordic American Tankers will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Nordic American Tankers in the second quarter valued at approximately $25,000. Diversify Advisory Services LLC acquired a new position in shares of Nordic American Tankers in the first quarter valued at approximately $41,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nordic American Tankers in the first quarter valued at approximately $45,000. SG Americas Securities LLC acquired a new position in shares of Nordic American Tankers in the first quarter valued at approximately $47,000. Finally, Caprock Group LLC acquired a new position in shares of Nordic American Tankers in the second quarter valued at approximately $55,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

About Nordic American Tankers

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.