Nordic American Tankers (NYSE:NAT) Trading Down 4.1% – Here’s Why

Shares of Nordic American Tankers Limited (NYSE:NAT) fell 4.1% on Wednesday . The company traded as low as $5.54 and last traded at $5.5550. 2,787,071 shares changed hands during trading, a decline of 37% from the average session volume of 4,449,718 shares. The stock had previously closed at $5.79.

Analyst Ratings Changes

A number of brokerages have weighed in on NAT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Jefferies Financial Group restated a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 28th. Finally, Wall Street Zen raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Nordic American Tankers currently has a consensus rating of “Hold” and a consensus price target of $3.25.

Nordic American Tankers Stock Up 0.6%

The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.94. The stock has a market cap of $1.19 billion, a PE ratio of 80.08 and a beta of -0.49. The company has a 50 day moving average price of $4.84 and a two-hundred day moving average price of $3.97.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $58.76 million during the quarter, compared to the consensus estimate of $69.43 million. Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%. Analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were given a $0.17 dividend. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a yield of 12.1%. Nordic American Tankers’s payout ratio is presently 971.43%.

Hedge Funds Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new position in Nordic American Tankers in the third quarter valued at about $32,000. BlueStem Wealth Partners LLC purchased a new stake in shares of Nordic American Tankers during the 3rd quarter valued at about $32,000. HBK Sorce Advisory LLC bought a new position in shares of Nordic American Tankers in the 3rd quarter worth approximately $33,000. Torren Management LLC bought a new position in shares of Nordic American Tankers in the 4th quarter worth approximately $34,000. Finally, Caprock Group LLC bought a new stake in Nordic American Tankers during the third quarter valued at approximately $36,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

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.