Nordic American Tankers (NYSE:NAT) Trading 4.2% Higher – Still a Buy?

Nordic American Tankers Limited (NYSE:NAT)’s share price traded up 4.2% during trading on Monday . The stock traded as high as $3.02 and last traded at $3.01. 973,261 shares were traded during trading, a decline of 66% from the average session volume of 2,897,297 shares. The stock had previously closed at $2.89.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NAT shares. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note 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 research report on Friday, November 29th.

Nordic American Tankers Trading Down 1.3 %

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’s 50-day simple moving average is $2.76 and its 200 day simple moving average is $3.33. The stock has a market capitalization of $618.04 million, a P/E ratio of 10.21 and a beta of -0.29.

Nordic American Tankers Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a yield of 16.22%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers’s payout ratio is 55.17%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NAT. B. Riley Wealth Advisors Inc. grew its holdings 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 acquiring an additional 5,347 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Nordic American Tankers in the second quarter worth about $25,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nordic American Tankers by 26.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock valued at $122,000 after acquiring an additional 6,940 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Nordic American Tankers by 1.5% in 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 acquiring an additional 7,382 shares in the last quarter. Finally, Sei Investments Co. lifted 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 valued at $365,000 after acquiring an additional 7,663 shares in the last quarter. 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.