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.
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
(
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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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