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

Nordic American Tankers Limited (NYSE:NAT)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $2.37 and last traded at $2.43, with a volume of 429354 shares changing hands. The stock had previously closed at $2.44.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Price Performance

The company has a 50 day moving average price of $2.60 and a 200-day moving average price of $2.91. 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 company has a market cap of $503.20 million, a price-to-earnings ratio of 8.31 and a beta of -0.33.

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

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 9.96%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 109.09%.

Institutional Trading of Nordic American Tankers

Several hedge funds have recently modified their holdings of NAT. Two Sigma Advisers LP boosted its position in shares of Nordic American Tankers by 0.4% during 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. lifted its holdings in shares of Nordic American Tankers by 10.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,678,423 shares of the shipping company’s stock worth $6,696,000 after purchasing an additional 246,365 shares in the last quarter. Geode Capital Management LLC increased its stake in Nordic American Tankers by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,493,016 shares of the shipping company’s stock valued at $6,233,000 after purchasing an additional 22,615 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Nordic American Tankers by 3.3% in the fourth quarter. Northern Trust Corp now owns 1,376,932 shares of the shipping company’s stock valued at $3,442,000 after buying an additional 44,380 shares in the last quarter. Finally, Philip James Wealth Mangement LLC lifted its position in 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 valued at $3,016,000 after acquiring an additional 97,819 shares in 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.