Jefferies Financial Group Reiterates Hold Rating for Nordic American Tankers (NYSE:NAT)

Jefferies Financial Group reiterated their hold rating on shares of Nordic American Tankers (NYSE:NAT) in a report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a $3.50 target price on the shipping company’s stock.

Several other analysts have also commented on the stock. Evercore ISI decreased their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research report on Friday, August 30th. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th.

Nordic American Tankers Stock Down 6.9 %

Nordic American Tankers stock opened at $2.68 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The firm has a market cap of $559.58 million, a P/E ratio of 9.24 and a beta of -0.21. The business has a fifty day moving average of $3.35 and a two-hundred day moving average of $3.66. Nordic American Tankers has a twelve month low of $2.63 and a twelve month high of $4.64.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The firm had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. During the same period in the prior year, the business posted $0.13 EPS. On average, analysts forecast that Nordic American Tankers will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC boosted 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 worth $185,000 after acquiring an additional 3,003 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of 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 purchasing an additional 5,347 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Nordic American Tankers in the 2nd quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC grew its position in Nordic American Tankers by 26.4% during the 3rd 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. Finally, Charles Schwab Investment Management Inc. increased its stake in Nordic American Tankers by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock valued at $1,796,000 after purchasing an additional 7,382 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

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.