Nordic American Tankers (NYSE:NAT) Sets New 12-Month Low at $3.67

Nordic American Tankers Limited (NYSE:NAT) shares hit a new 52-week low during trading on Friday . The company traded as low as $3.67 and last traded at $3.67, with a volume of 1198976 shares trading hands. The stock had previously closed at $3.73.

Analysts Set New Price Targets

A number of brokerages have recently commented on NAT. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Jefferies Financial Group decreased their price objective on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Nordic American Tankers currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

Nordic American Tankers Trading Down 2.4 %

The business’s 50 day moving average price is $3.99 and its 200-day moving average price is $4.06. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36. The company has a market cap of $760.03 million, a price-to-earnings ratio of 11.31 and a beta of -0.17.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share (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 return on equity of 12.43% and a net margin of 28.37%. On average, equities analysts anticipate that Nordic American Tankers Limited will post 0.41 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Friday, June 28th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.19%. The ex-dividend date of this dividend was Friday, June 28th. Nordic American Tankers’s dividend payout ratio is presently 150.00%.

Institutional Trading of Nordic American Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of NAT. Diversify Advisory Services LLC acquired a new position in shares of Nordic American Tankers in the 1st quarter valued at approximately $41,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Nordic American Tankers in the 4th quarter valued at approximately $43,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nordic American Tankers in the 1st quarter valued at approximately $45,000. SG Americas Securities LLC acquired a new position in shares of Nordic American Tankers in the 1st quarter valued at approximately $47,000. Finally, Seelaus Asset Management LLC acquired a new position in shares of Nordic American Tankers in the 1st quarter valued at approximately $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.