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

Shares of Nordic American Tankers Limited (NYSE:NAT) 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 changing hands. The stock had previously closed at $2.51.

Analysts Set New Price Targets

NAT has been the subject of several recent analyst reports. Evercore ISI dropped their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 29th. Finally, StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd.

Nordic American Tankers Trading Down 1.2 %

The business has a 50 day simple moving average of $3.05 and a two-hundred day simple moving average of $3.51. The company has a market cap of $509.46 million, a PE ratio of 8.41 and a beta of -0.26. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Nordic American Tankers Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be paid a $0.04 dividend. This represents a $0.48 annualized dividend and a dividend yield of 19.67%. The ex-dividend date is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio is currently 55.17%.

Hedge Funds Weigh In On Nordic American Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of Nordic American Tankers during the second quarter valued at about $25,000. Raymond James Trust N.A. acquired a new stake in Nordic American Tankers during the 3rd quarter valued at approximately $37,000. Bluefin Capital Management LLC purchased a new stake in Nordic American Tankers during the 2nd quarter worth approximately $47,000. Caprock Group LLC acquired a new position in shares of Nordic American Tankers in the 2nd quarter valued at approximately $55,000. Finally, Ballentine Partners LLC purchased a new position in shares of Nordic American Tankers during the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds 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.