Nordic American Tankers (NYSE:NAT) Trading Down 4.1% – What’s Next?

Nordic American Tankers Limited (NYSE:NAT) was down 4.1% on Thursday . The stock traded as low as $2.81 and last traded at $2.83. Approximately 957,119 shares were traded during trading, a decline of 69% from the average daily volume of 3,133,204 shares. The stock had previously closed at $2.95.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NAT shares. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Jefferies Financial Group restated a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 29th.

Nordic American Tankers Price Performance

The stock has a 50 day moving average of $2.76 and a 200-day moving average of $3.32. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $587.77 million, a P/E ratio of 9.71 and a beta of -0.29.

Nordic American Tankers Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be issued a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 17.05%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers’s payout ratio is presently 55.17%.

Institutional Investors Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Nordic American Tankers by 274.8% during the third quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock worth $984,000 after acquiring an additional 196,571 shares during the period. Philip James Wealth Mangement LLC bought a new stake in Nordic American Tankers during the 3rd quarter valued at $4,069,000. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 621,588 shares during the period. AQR Capital Management LLC grew its position in shares of Nordic American Tankers by 180.9% during the 2nd quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company’s stock worth $1,674,000 after buying an additional 270,946 shares in the last quarter. Finally, American Century Companies Inc. increased its stake 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 valued at $13,928,000 after buying an additional 1,009,096 shares during the period. Institutional investors 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.