Nordic American Tankers’ (NAT) “Hold” Rating Reiterated at Jefferies Financial Group

Nordic American Tankers (NYSE:NAT)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Financial Group in a research report issued on Thursday, Benzinga reports. They currently have a $4.00 target price on the shipping company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 11.27% from the stock’s current price.

Several other research firms have also issued reports on NAT. Evercore ISI dropped 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 cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th.

Nordic American Tankers Stock Up 1.8 %

Shares of NAT stock opened at $3.60 on Thursday. Nordic American Tankers has a 12 month low of $3.31 and a 12 month high of $4.83. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. The firm has a market cap of $750.62 million, a PE ratio of 11.23 and a beta of -0.19. The stock has a 50 day moving average of $3.66 and a 200-day moving average of $3.89.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.56%. During the same quarter in the prior year, the business earned $0.13 earnings per share. On average, equities analysts predict that Nordic American Tankers will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in shares of Nordic American Tankers by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after acquiring an additional 621,588 shares during the period. Goldman Sachs Group Inc. grew its holdings in Nordic American Tankers by 3.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock worth $31,610,000 after acquiring an additional 221,478 shares during the period. American Century Companies Inc. raised its position in shares of Nordic American Tankers by 40.5% during the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after acquiring an additional 1,009,096 shares during the last quarter. Vanguard Group Inc. increased its holdings in Nordic American Tankers by 19.6% in the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 275,707 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Nordic American Tankers by 122.8% during the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after buying an additional 711,973 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

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.