Nordic American Tankers (NYSE:NAT) Trading Down 3.5% – What’s Next?

Shares of Nordic American Tankers Limited (NYSE:NAT) fell 3.5% on Friday . The company traded as low as $2.61 and last traded at $2.59. 231,685 shares were traded during trading, a decline of 93% from the average session volume of 3,197,546 shares. The stock had previously closed at $2.68.

Wall Street Analyst Weigh In

Several research firms have commented on NAT. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 29th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd.

Nordic American Tankers Stock Down 2.4 %

The firm has a market capitalization of $546.01 million, a PE ratio of 9.02 and a beta of -0.29. The business’s fifty day moving average price is $2.71 and its 200 day moving average price is $3.27. 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 (NYSE:NAT) last released its quarterly earnings results on Friday, November 29th. The shipping company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. On average, equities research analysts forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, January 16th. Investors of record on Tuesday, December 17th were paid a $0.04 dividend. This represents a $0.48 annualized dividend and a dividend yield of 18.36%. The ex-dividend date was Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is 55.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. purchased a new stake in shares of Nordic American Tankers during the 3rd quarter worth approximately $37,000. Bluefin Capital Management LLC acquired a new stake in Nordic American Tankers in the second quarter valued at $47,000. Ballentine Partners LLC increased its position in shares of Nordic American Tankers by 90.7% in the fourth quarter. Ballentine Partners LLC now owns 24,737 shares of the shipping company’s stock valued at $62,000 after buying an additional 11,767 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Nordic American Tankers by 50.1% during the 2nd 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 last quarter. Finally, Franklin Resources Inc. lifted its stake in Nordic American Tankers by 99.8% in the 3rd quarter. Franklin Resources Inc. now owns 25,333 shares of the shipping company’s stock valued at $92,000 after buying an additional 12,651 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.