Jefferies Financial Group Lowers Nordic American Tankers (NYSE:NAT) Price Target to $3.50

Nordic American Tankers (NYSE:NAT) had its target price dropped by investment analysts at Jefferies Financial Group from $4.00 to $3.50 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the shipping company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 17.45% from the company’s current price.

Other research analysts also recently issued research reports about the company. Evercore ISI reduced their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday.

Nordic American Tankers Trading Down 2.6 %

NAT opened at $2.98 on Thursday. The firm has a market capitalization of $622.22 million, a P/E ratio of 10.28 and a beta of -0.21. The firm’s 50 day moving average is $3.49 and its 200-day moving average is $3.74. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 52-week low of $2.95 and a 52-week high of $4.64.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $66.10 million for the quarter, compared to the consensus estimate of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same quarter in the previous year, the firm posted $0.13 EPS. Analysts expect that Nordic American Tankers will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordic American Tankers

Several large investors have recently added to or reduced their stakes in NAT. Headlands Technologies LLC bought a new stake in shares of Nordic American Tankers during the second quarter valued at approximately $25,000. Raymond James Trust N.A. acquired a new position in Nordic American Tankers during the 3rd quarter worth $37,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Nordic American Tankers in the first quarter worth $45,000. SG Americas Securities LLC acquired a new position in shares of Nordic American Tankers during the first quarter valued at $47,000. Finally, Bluefin Capital Management LLC bought a new stake in shares of Nordic American Tankers during the second quarter valued at about $47,000. 44.29% of the stock is 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.