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Nordic American Tankers (NYSE:NAT) Lowered to "Sell" Rating by StockNews.com

Nordic American Tankers logo with Transportation background
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Nordic American Tankers (NYSE:NAT - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Thursday.

Separately, Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 29th.

Check Out Our Latest Analysis on Nordic American Tankers

Nordic American Tankers Price Performance

Shares of NAT traded up $0.01 during mid-day trading on Thursday, hitting $2.46. 3,445,526 shares of the company traded hands, compared to its average volume of 2,908,250. The stock has a market capitalization of $513.64 million, a price-to-earnings ratio of 8.48 and a beta of -0.31. 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 business has a 50-day moving average of $2.66 and a 200 day moving average of $3.08. Nordic American Tankers has a one year low of $2.41 and a one year high of $4.40.

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

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Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in shares of Nordic American Tankers by 274.8% in the third quarter. Barclays PLC now owns 268,115 shares of the shipping company's stock valued at $984,000 after acquiring an additional 196,571 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Nordic American Tankers during the 3rd quarter worth about $4,069,000. Empowered Funds LLC bought a new stake in shares of Nordic American Tankers during the 4th quarter worth about $509,000. MML Investors Services LLC boosted its holdings in shares of Nordic American Tankers by 46.0% during the 3rd quarter. MML Investors Services LLC now owns 86,357 shares of the shipping company's stock worth $317,000 after buying an additional 27,210 shares during the period. Finally, Two Sigma Advisers LP grew its position 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 valued at $13,851,000 after purchasing an additional 1,521,900 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors.

About Nordic American Tankers

(Get Free Report)

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.

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