Nordic American Tankers (NYSE:NAT) Reaches New 12-Month Low – Time to Sell?

Nordic American Tankers Limited (NYSE:NAT)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $2.95 and last traded at $2.96, with a volume of 1007196 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

Several analysts have weighed in on NAT shares. Evercore ISI lowered their price target 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 lowered their price objective on shares of Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th.

Nordic American Tankers Stock Down 0.3 %

The company has a market capitalization of $624.31 million, a P/E ratio of 10.36 and a beta of -0.21. The company has a 50-day moving average of $3.45 and a two-hundred day moving average of $3.72. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $66.10 million for the quarter, compared to the consensus estimate of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period in the prior year, the company posted $0.13 earnings per share. On average, research analysts predict that Nordic American Tankers Limited will post 0.28 EPS for the current year.

Nordic American Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.48 annualized dividend and a dividend yield of 16.05%. Nordic American Tankers’s payout ratio is 165.52%.

Hedge Funds Weigh In On Nordic American Tankers

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC lifted its stake in Nordic American Tankers by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock worth $145,000 after purchasing an additional 2,904 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Nordic American Tankers by 6.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock valued at $185,000 after buying an additional 3,003 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Nordic American Tankers by 50.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after purchasing an additional 5,347 shares during the period. Headlands Technologies LLC purchased a new stake in Nordic American Tankers during the 2nd quarter valued at $25,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake 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 worth $122,000 after purchasing an additional 6,940 shares during the period. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

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.