Nordic American Tankers (NYSE:NAT) Receives Hold Rating from Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of Nordic American Tankers (NYSE:NAT) in a research report released on Friday,Benzinga reports. The firm currently has a $3.00 price target on the shipping company’s stock.

Separately, StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday.

Nordic American Tankers Stock Down 0.2 %

NAT opened at $2.46 on Friday. 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 1-year low of $2.41 and a 1-year high of $4.40. The company has a market capitalization of $512.59 million, a PE ratio of 8.47 and a beta of -0.31. The firm’s 50 day simple moving average is $2.66 and its two-hundred day simple moving average is $3.09.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Friday, November 29th. The shipping company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. As a group, equities analysts forecast that Nordic American Tankers will post 0.24 EPS for the current year.

Institutional Trading of Nordic American Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of NAT. Two Sigma Advisers LP increased its stake in shares of Nordic American Tankers by 67.6% in 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. Philip James Wealth Mangement LLC purchased a new stake in shares of Nordic American Tankers in the third quarter worth $4,069,000. Bridgeway Capital Management LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter worth $2,072,000. Victory Capital Management Inc. increased its stake in shares of Nordic American Tankers by 834.7% in 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. Finally, Norges Bank purchased a new stake in shares of Nordic American Tankers in the fourth quarter worth $1,202,000. 44.29% of the stock is owned by hedge funds and other institutional investors.

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.