Nordic American Tankers (NYSE:NAT) Hits New 52-Week Low – What’s Next?

Nordic American Tankers Limited (NYSE:NAT)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.47 and last traded at $2.47, with a volume of 331441 shares trading hands. The stock had previously closed at $2.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Evercore ISI reduced their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a research note on Friday, November 29th.

Nordic American Tankers Stock Performance

The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $3.07 and a 200 day moving average price of $3.52. The stock has a market cap of $515.73 million, a PE ratio of 8.52 and a beta of -0.26.

Nordic American Tankers Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 annualized dividend and a dividend yield of 19.43%. Nordic American Tankers’s dividend payout ratio is currently 55.17%.

Institutional Trading of Nordic American Tankers

A number of hedge funds have recently bought and sold shares of NAT. B. Riley Wealth Advisors Inc. grew its position in shares of Nordic American Tankers by 50.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock worth $66,000 after buying an additional 5,347 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Nordic American Tankers during the 2nd quarter valued at $25,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Nordic American Tankers by 26.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock valued at $122,000 after purchasing an additional 6,940 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nordic American Tankers by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock valued at $1,796,000 after purchasing an additional 7,382 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Nordic American Tankers by 9.1% in the 2nd quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock worth $365,000 after purchasing an additional 7,663 shares in the last quarter. Hedge funds and other 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.