Nordic American Tankers (NYSE:NAT) Reaches New 1-Year Low – Should You Sell?

Nordic American Tankers Limited (NYSE:NAT)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $3.06 and last traded at $3.07, with a volume of 525260 shares trading hands. The stock had previously closed at $3.10.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NAT. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Evercore ISI decreased their price target on 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 reissued a “hold” rating and issued a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th.

Nordic American Tankers Stock Down 3.2 %

The firm has a market cap of $626.39 million, a PE ratio of 10.45 and a beta of -0.21. The stock has a 50-day simple moving average of $3.53 and a two-hundred day simple moving average of $3.76. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

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

Nordic American Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be given a $0.12 dividend. The ex-dividend date is Thursday, September 26th. This represents a $0.48 annualized dividend and a yield of 16.00%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 165.52%.

Institutional Investors Weigh In On Nordic American Tankers

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after purchasing an additional 621,588 shares in the last quarter. American Century Companies Inc. increased its position in shares of Nordic American Tankers by 40.5% during the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after acquiring an additional 1,009,096 shares during the period. Vanguard Group Inc. increased its holdings in Nordic American Tankers by 19.6% during the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after buying an additional 275,707 shares during the period. Millennium Management LLC increased its holdings in Nordic American Tankers by 122.8% during the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after buying an additional 711,973 shares during the period. Finally, Philip James Wealth Mangement LLC acquired a new stake in Nordic American Tankers in the third quarter valued at approximately $4,069,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

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.