Nordic American Tankers (NYSE:NAT) Hits New 52-Week Low – What’s Next?

Shares of Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.41 and last traded at $2.42, with a volume of 926700 shares. The stock had previously closed at $2.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NAT shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 29th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd.

Nordic American Tankers Price Performance

The company has a 50 day simple moving average of $2.91 and a 200 day simple moving average of $3.44. The company has a market capitalization of $509.46 million, a price-to-earnings ratio of 8.41 and a beta of -0.26. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36.

Nordic American Tankers Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a yield of 19.67%. Nordic American Tankers’s dividend payout ratio (DPR) is 55.17%.

Institutional Trading of Nordic American Tankers

A number of institutional investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP grew its position in 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 acquiring an additional 1,521,900 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in Nordic American Tankers during the 3rd quarter valued at $4,069,000. American Century Companies Inc. grew its holdings in 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 purchasing an additional 1,009,096 shares in the last quarter. Millennium Management LLC increased its stake in 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 buying an additional 711,973 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after buying an additional 621,588 shares in the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

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.