Nordic American Tankers (NYSE:NAT) Reaches New 52-Week Low – Time to Sell?

Shares of Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week low during trading on Wednesday . The stock traded as low as $2.83 and last traded at $2.90, with a volume of 479747 shares traded. The stock had previously closed at $2.88.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NAT. Jefferies Financial Group cut their target price on shares of Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Thursday, November 14th. Evercore ISI reduced their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th. Finally, StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday, November 14th.

Nordic American Tankers Price Performance

The firm has a market cap of $601.34 million, a P/E ratio of 9.93 and a beta of -0.21. The company’s 50-day simple moving average is $3.38 and its 200 day simple moving average is $3.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The firm had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same quarter last year, the firm earned $0.13 EPS. Research analysts anticipate that Nordic American Tankers Limited will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Nordic American Tankers in the second quarter worth $25,000. Raymond James Trust N.A. bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth about $37,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Nordic American Tankers during the 1st quarter worth about $45,000. Bluefin Capital Management LLC bought a new position in Nordic American Tankers during the 2nd quarter valued at about $47,000. Finally, SG Americas Securities LLC purchased a new stake in Nordic American Tankers in the 1st quarter worth about $47,000. Hedge funds and other institutional investors 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.