Nordic American Tankers (NYSE:NAT – Free Report) had its target price reduced by Jefferies Financial Group from $5.00 to $4.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the shipping company’s stock.
Separately, StockNews.com downgraded Nordic American Tankers from a hold rating to a sell rating in a research note on Tuesday, August 13th.
Read Our Latest Report on Nordic American Tankers
Nordic American Tankers Stock Performance
Nordic American Tankers (NYSE:NAT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The shipping company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $60.57 million for the quarter, compared to analyst estimates of $66.19 million. Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. Equities research analysts expect that Nordic American Tankers will post 0.41 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in Nordic American Tankers by 48.8% in the 2nd quarter. Cetera Investment Advisers now owns 272,596 shares of the shipping company’s stock valued at $1,085,000 after purchasing an additional 89,450 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Nordic American Tankers in the second quarter valued at approximately $373,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Nordic American Tankers by 50.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after buying an additional 5,347 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Nordic American Tankers during the 2nd quarter worth approximately $176,000. Finally, Millennium Management LLC increased its holdings in shares of Nordic American Tankers by 122.8% during the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after acquiring an additional 711,973 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.
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.
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