Nordic American Tankers (NYSE:NAT) Sets New 1-Year Low – Here’s What Happened

Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week low on Monday . The stock traded as low as $3.31 and last traded at $3.31, with a volume of 138590 shares changing hands. The stock had previously closed at $3.35.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Evercore ISI lowered their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 target price on shares of Nordic American Tankers in a report on Thursday, September 12th.

Nordic American Tankers Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $3.62 and a 200-day moving average of $3.80. The stock has a market capitalization of $689.04 million, a price-to-earnings ratio of 11.38 and a beta of -0.20.

Nordic American Tankers (NYSE:NAT) last posted 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. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The business had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. During the same quarter last year, the company earned $0.13 earnings per share. On average, equities research analysts predict that Nordic American Tankers Limited will post 0.32 EPS for the current fiscal year.

Nordic American Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be issued a $0.12 dividend. The ex-dividend date is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 14.55%. Nordic American Tankers’s dividend payout ratio (DPR) is 165.52%.

Hedge Funds Weigh In On Nordic American Tankers

Large investors have recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in shares of Nordic American Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after buying an additional 2,904 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of Nordic American Tankers by 6.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock worth $185,000 after purchasing an additional 3,003 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in 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 worth $66,000 after purchasing an additional 5,347 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Nordic American Tankers in the 2nd quarter worth approximately $25,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Nordic American Tankers by 26.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock worth $122,000 after buying an additional 6,940 shares in the last quarter. 44.29% of the stock is currently 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.