Nordic American Tankers (NYSE:NAT) Hits New 52-Week Low – Here’s What Happened

Nordic American Tankers Limited (NYSE:NAT) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.37 and last traded at $2.43, with a volume of 429354 shares trading hands. The stock had previously closed at $2.44.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NAT. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Friday, February 28th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday.

Nordic American Tankers Stock Down 1.2 %

The company has a market capitalization of $503.20 million, a P/E ratio of 8.31 and a beta of -0.33. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $2.60 and a 200-day simple moving average of $2.91.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. On average, equities research analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.06 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.96%. Nordic American Tankers’s payout ratio is 109.09%.

Institutional Investors Weigh In On Nordic American Tankers

Large investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC acquired a new stake in shares of Nordic American Tankers during the 4th quarter worth about $26,000. Summit Financial LLC bought a new stake in shares of Nordic American Tankers in the fourth quarter valued at about $32,000. Avantax Advisory Services Inc. bought a new position in Nordic American Tankers during the fourth quarter worth about $33,000. AXQ Capital LP bought a new position in Nordic American Tankers during the 4th quarter worth $43,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Nordic American Tankers in the 4th quarter valued at $43,000. Institutional investors own 44.29% of the company’s stock.

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.