Nordic American Tankers (NYSE:NAT) Trading Down 2.8% – Should You Sell?

Nordic American Tankers Limited (NYSE:NAT) was down 2.8% during trading on Monday . The stock traded as low as $2.45 and last traded at $2.46. 401,426 shares were traded during trading, a decline of 84% from the average session volume of 2,536,792 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

NAT has been the subject of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, April 9th.

Nordic American Tankers Price Performance

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 firm has a market cap of $500.08 million, a PE ratio of 8.26 and a beta of 0.02. The business has a fifty day moving average of $2.52 and a 200-day moving average of $2.81.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The firm had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. As a group, research analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a yield of 10.02%. Nordic American Tankers’s payout ratio is presently 109.09%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its holdings in shares of Nordic American Tankers by 0.4% in the 4th quarter. Two Sigma Advisers LP now owns 3,787,400 shares of the shipping company’s stock worth $9,468,000 after purchasing an additional 13,300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nordic American Tankers by 10.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,678,423 shares of the shipping company’s stock worth $6,696,000 after buying an additional 246,365 shares in the last quarter. Geode Capital Management LLC grew its position in Nordic American Tankers by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,493,016 shares of the shipping company’s stock valued at $6,233,000 after acquiring an additional 22,615 shares during the last quarter. Northern Trust Corp raised its stake in shares of Nordic American Tankers by 3.3% during the fourth quarter. Northern Trust Corp now owns 1,376,932 shares of the shipping company’s stock worth $3,442,000 after acquiring an additional 44,380 shares in the last quarter. Finally, Philip James Wealth Mangement LLC lifted its holdings in shares of Nordic American Tankers by 8.8% in the 4th quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company’s stock worth $3,016,000 after acquiring an additional 97,819 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

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.