Nordic American Tankers (NYSE:NAT) Stock Price Down 5.4% – Time to Sell?

Shares of Nordic American Tankers Limited (NYSE:NAT) were down 5.4% during trading on Thursday . The stock traded as low as $5.85 and last traded at $5.7350. 169,338 shares were traded during mid-day trading, a decline of 96% from the average session volume of 4,368,729 shares. The stock had previously closed at $6.06.

Analyst Ratings Changes

A number of research firms have weighed in on NAT. Wall Street Zen downgraded shares of Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Evercore lowered shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $4.00.

Nordic American Tankers Trading Down 6.4%

The firm has a 50-day moving average of $5.62 and a 200 day moving average of $5.09. The company has a market cap of $1.20 billion, a P/E ratio of 21.02 and a beta of -0.57. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $77.51 million for the quarter, compared to analyst estimates of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. On average, analysts predict that Nordic American Tankers Limited will post 0.58 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date was Wednesday, June 10th. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. Nordic American Tankers’s dividend payout ratio is presently 325.93%.

Institutional Investors Weigh In On Nordic American Tankers

Large investors have recently bought and sold shares of the stock. SmartHarvest Portfolios LLC increased its stake in Nordic American Tankers by 18.0% in the first quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 2,087 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Nordic American Tankers by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company’s stock worth $129,000 after purchasing an additional 2,416 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Nordic American Tankers by 4.7% during the 4th quarter. Cerity Partners LLC now owns 54,470 shares of the shipping company’s stock worth $187,000 after purchasing an additional 2,449 shares in the last quarter. Signaturefd LLC grew its stake in shares of Nordic American Tankers by 9.5% in the 4th quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock valued at $123,000 after buying an additional 3,120 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Nordic American Tankers by 8.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 44,606 shares of the shipping company’s stock valued at $153,000 after buying an additional 3,433 shares during the period. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.