Nordic American Tankers Limited (NYSE:NAT) Short Interest Update

Nordic American Tankers Limited (NYSE:NAT) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 6,960,000 shares, a growth of 21.0% from the June 30th total of 5,750,000 shares. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Trading of Nordic American Tankers

Institutional investors have recently modified their holdings of the stock. Diversify Advisory Services LLC bought a new stake in shares of Nordic American Tankers during the 1st quarter valued at $41,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Nordic American Tankers during the 4th quarter valued at $43,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nordic American Tankers during the 1st quarter valued at $45,000. SG Americas Securities LLC bought a new stake in shares of Nordic American Tankers during the 1st quarter valued at $47,000. Finally, Seelaus Asset Management LLC bought a new stake in shares of Nordic American Tankers during the 1st quarter valued at $59,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Performance

NYSE NAT traded down $0.09 on Friday, reaching $3.64. The stock had a trading volume of 4,904,460 shares, compared to its average volume of 2,201,272. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.60. The firm has a fifty day moving average of $3.97 and a two-hundred day moving average of $4.05. Nordic American Tankers has a 1-year low of $3.61 and a 1-year high of $4.83. The company has a market cap of $760.03 million, a P/E ratio of 11.38 and a beta of -0.17.

Nordic American Tankers (NYSE:NAT) last issued 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). Nordic American Tankers had a net margin of 28.37% and a return on equity of 12.43%. The firm had revenue of $60.57 million during the quarter, compared to analyst estimates of $66.19 million. On average, equities research analysts anticipate that Nordic American Tankers will post 0.41 EPS for the current year.

Nordic American Tankers Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.19%. Nordic American Tankers’s payout ratio is 150.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NAT shares. Jefferies Financial Group decreased their target price on Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. StockNews.com raised 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

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.