Nordic American Tankers (NYSE:NAT) Hits New 1-Year Low – Here’s Why

Nordic American Tankers Limited (NYSE:NAT) shares hit a new 52-week low during trading on Wednesday . The company 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.

Analyst Ratings Changes

NAT has been the subject of a number of recent analyst reports. 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. Jefferies Financial Group dropped 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 report on Thursday, November 14th. Finally, StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th.

Nordic American Tankers Stock Up 1.0 %

The company’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $3.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63. The firm has a market cap of $607.61 million, a P/E ratio of 10.10 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 11.60% and a net margin of 26.35%. During the same period last year, the company earned $0.13 EPS. Research analysts anticipate that Nordic American Tankers Limited will post 0.28 EPS for the current fiscal year.

Nordic American Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 16.49%. The ex-dividend date of this dividend was Thursday, September 26th. Nordic American Tankers’s payout ratio is currently 165.52%.

Institutional Trading of Nordic American Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of NAT. Philip James Wealth Mangement LLC purchased a new position in shares of Nordic American Tankers during the third quarter worth approximately $4,069,000. Dimensional Fund Advisors LP increased its holdings in Nordic American Tankers by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after purchasing an additional 621,588 shares during the period. Prevail Innovative Wealth Advisors LLC raised its position in Nordic American Tankers by 24.8% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 777,711 shares of the shipping company’s stock valued at $3,095,000 after purchasing an additional 154,558 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nordic American Tankers by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock worth $6,595,000 after buying an additional 275,707 shares during the period. Finally, ProShare Advisors LLC grew its position 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 worth $145,000 after buying an additional 2,904 shares in the last quarter. 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.