Nordic American Tankers (NYSE:NAT) Stock Price Down 4.4% – What’s Next?

Nordic American Tankers Limited (NYSE:NAT) dropped 4.4% during mid-day trading on Wednesday . The company traded as low as $6.65 and last traded at $6.5950. 283,026 shares traded hands during trading, a decline of 93% from the average session volume of 4,078,554 shares. The stock had previously closed at $6.90.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Stock Down 7.0%

The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $6.29 and a 200-day simple moving average of $5.73. The company has a market cap of $1.36 billion, a PE ratio of 23.76 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $77.51 million during the quarter, compared to analysts’ expectations of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. Equities research analysts anticipate that Nordic American Tankers Limited will post 0.58 EPS for the current year.

Institutional Investors Weigh In On Nordic American Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in Nordic American Tankers in the 2nd quarter worth $30,000. FNY Investment Advisers LLC purchased a new position in Nordic American Tankers during the second quarter valued at $32,000. Torren Management LLC acquired a new stake in shares of Nordic American Tankers in the fourth quarter valued at about $34,000. ROI Financial Advisors LLC acquired a new stake in shares of Nordic American Tankers in the fourth quarter valued at about $36,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Nordic American Tankers by 2,800.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock worth $37,000 after purchasing an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.