Shares of Nordic American Tankers Limited (NYSE:NAT – Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.69 and last traded at $3.69, with a volume of 1300275 shares trading hands. The stock had previously closed at $3.72.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.17.
Get Our Latest Analysis on NAT
Nordic American Tankers Price Performance
Nordic American Tankers (NYSE:NAT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The shipping company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $60.57 million for the quarter, compared to analyst estimates of $66.19 million. Nordic American Tankers had a net margin of 28.37% and a return on equity of 12.43%. Equities research analysts predict that Nordic American Tankers Limited will post 0.47 earnings per share for the current year.
Nordic American Tankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Friday, June 28th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.83%. The ex-dividend date was Friday, June 28th. Nordic American Tankers’s dividend payout ratio is currently 150.00%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Diversify Advisory Services LLC acquired a new position in Nordic American Tankers in the first quarter worth about $41,000. Kingswood Wealth Advisors LLC acquired a new position in Nordic American Tankers in the fourth quarter worth about $43,000. B. Riley Wealth Advisors Inc. acquired a new position in Nordic American Tankers in the first quarter worth about $45,000. SG Americas Securities LLC acquired a new position in Nordic American Tankers in the first quarter worth about $47,000. Finally, Seelaus Asset Management LLC acquired a new position in Nordic American Tankers in the first quarter worth about $59,000. Institutional investors and hedge funds own 44.29% of the company’s stock.
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.
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