Nordic American Tankers Limited (NYSE:NAT) Short Interest Up 50.1% in March

Nordic American Tankers Limited (NYSE:NAT) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 12,915,413 shares, an increase of 50.1% from the February 26th total of 8,605,641 shares. Based on an average daily trading volume, of 7,748,080 shares, the days-to-cover ratio is presently 1.7 days. Approximately 6.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Nordic American Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the business. Torren Management LLC bought a new position in shares of Nordic American Tankers during the 4th quarter worth about $34,000. BlueStem Wealth Partners LLC bought a new stake in Nordic American Tankers in the third quarter valued at about $32,000. HBK Sorce Advisory LLC acquired a new position in Nordic American Tankers in the third quarter worth about $33,000. Vanguard Personalized Indexing Management LLC acquired a new position in Nordic American Tankers in the third quarter worth about $32,000. Finally, ROI Financial Advisors LLC bought a new position in Nordic American Tankers during the fourth quarter worth about $36,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Down 0.1%

Shares of NAT opened at $5.66 on Monday. Nordic American Tankers has a 12-month low of $2.13 and a 12-month high of $6.34. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 80.80 and a beta of -0.50. The stock’s 50-day moving average price is $4.87 and its 200 day moving average price is $4.00.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%.The firm had revenue of $58.76 million during the quarter, compared to the consensus estimate of $69.43 million. As a group, research analysts predict that Nordic American Tankers will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 12.0%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is 971.43%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.