Nordic American Tankers (NYSE:NAT) Hits New 12-Month Low – Should You Sell?

Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week low during trading on Wednesday . The company traded as low as $2.83 and last traded at $2.90, with a volume of 479747 shares changing hands. The stock had previously closed at $2.88.

Analyst Upgrades and Downgrades

NAT has been the subject of several research reports. Jefferies Financial Group lowered their price target on shares of Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Thursday, November 14th. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Evercore ISI cut 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.

Nordic American Tankers Stock Up 1.0 %

The business’s fifty day moving average price is $3.40 and its two-hundred day moving average price is $3.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The firm has a market capitalization of $607.61 million, a P/E ratio of 10.10 and a beta of -0.21.

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

Nordic American Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Thursday, September 26th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.48 annualized dividend and a yield of 16.49%. Nordic American Tankers’s dividend payout ratio (DPR) is 165.52%.

Hedge Funds Weigh In On Nordic American Tankers

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Nordic American Tankers by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after buying an additional 621,588 shares during the last quarter. Two Sigma Advisers LP grew its stake in Nordic American Tankers by 67.6% during the 3rd quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after purchasing an additional 1,521,900 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Nordic American Tankers by 40.5% in the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after purchasing an additional 1,009,096 shares during the period. Vanguard Group Inc. raised its stake in shares of Nordic American Tankers by 19.6% in the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock worth $6,595,000 after purchasing an additional 275,707 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Nordic American Tankers by 122.8% in the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after purchasing an additional 711,973 shares during the last quarter. 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.