Nordic American Tankers Target of Unusually High Options Trading (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT) was the recipient of unusually large options trading on Friday. Traders bought 30,432 call options on the stock. This is an increase of approximately 1,363% compared to the typical daily volume of 2,080 call options.

Nordic American Tankers Trading Down 0.4%

NAT stock traded down $0.02 during mid-day trading on Friday, reaching $3.73. The company had a trading volume of 1,417,529 shares, compared to its average volume of 2,577,370. The company has a market capitalization of $788.77 million, a PE ratio of 186.34 and a beta of -0.45. The firm has a 50 day moving average of $3.54 and a 200 day moving average of $3.10. Nordic American Tankers has a 12 month low of $2.13 and a 12 month high of $3.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.95 and a quick ratio of 2.04.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $40.18 million during the quarter, compared to the consensus estimate of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. On average, equities analysts predict that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a dividend of $0.13 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.52 annualized dividend and a yield of 14.0%. Nordic American Tankers’s payout ratio is 2,000.00%.

Institutional Investors Weigh In On Nordic American Tankers

A number of hedge funds have recently made changes to their positions in NAT. Sequoia Financial Advisors LLC boosted its stake in Nordic American Tankers by 21.4% in the third quarter. Sequoia Financial Advisors LLC now owns 19,260 shares of the shipping company’s stock valued at $60,000 after acquiring an additional 3,395 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Nordic American Tankers by 8.3% during the second quarter. SBI Securities Co. Ltd. now owns 44,932 shares of the shipping company’s stock worth $118,000 after purchasing an additional 3,445 shares during the period. Franklin Resources Inc. boosted its position in Nordic American Tankers by 15.9% in the third quarter. Franklin Resources Inc. now owns 27,236 shares of the shipping company’s stock valued at $86,000 after buying an additional 3,735 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Nordic American Tankers by 19.4% in the first quarter. Russell Investments Group Ltd. now owns 23,886 shares of the shipping company’s stock valued at $59,000 after acquiring an additional 3,875 shares during the period. Finally, Prospera Financial Services Inc increased its stake in shares of Nordic American Tankers by 21.4% in the 2nd quarter. Prospera Financial Services Inc now owns 24,680 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 4,343 shares in the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Evercore ISI upped their price target on shares of Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.25.

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.