Nordic American Tankers (NYSE:NAT) Sets New 52-Week Low – Time to Sell?

Nordic American Tankers Limited (NYSE:NAT) shares hit a new 52-week low on Monday . The company traded as low as $3.19 and last traded at $3.19, with a volume of 349507 shares. The stock had previously closed at $3.24.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday. Evercore ISI reduced 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. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Nordic American Tankers in a research note on Thursday, September 12th.

Nordic American Tankers Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $3.59 and a 200 day simple moving average of $3.78. The stock has a market capitalization of $642.06 million, a price-to-earnings ratio of 10.60 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The business had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same period last year, the company posted $0.13 earnings per share. On average, equities research analysts forecast that Nordic American Tankers Limited will post 0.32 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 15.61%. The ex-dividend date is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 165.52%.

Institutional Trading of Nordic American Tankers

A number of institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Nordic American Tankers by 36,804.9% during the 1st quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock worth $2,432,000 after purchasing an additional 618,690 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Nordic American Tankers by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after acquiring an additional 621,588 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in Nordic American Tankers in the first quarter valued at approximately $2,443,000. Vanguard Group Inc. grew its position in Nordic American Tankers by 19.6% in the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock worth $6,595,000 after acquiring an additional 275,707 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Nordic American Tankers by 8.5% in the first quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock worth $145,000 after acquiring an additional 2,904 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

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.