Nordic American Tanker (NAT) Trading -5% Higher

Shares of Nordic American Tanker Ltd (NYSE:NAT) traded up 5% on Tuesday . The stock traded as high as $2.20 and last traded at $2.08. 1,164,305 shares changed hands during trading, a decline of 42% from the average session volume of 2,014,944 shares. The stock had previously closed at $2.19.

Several analysts recently weighed in on the company. Clarkson Capital upgraded Nordic American Tanker from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Seaport Global Securities set a $3.00 price target on Nordic American Tanker and gave the company a “hold” rating in a report on Monday. Maxim Group restated a “sell” rating and set a $1.00 price target on shares of Nordic American Tanker in a report on Monday. Morgan Stanley reduced their target price on Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Credit Suisse Group reduced their target price on Nordic American Tanker from $4.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $3.36.

The company has a quick ratio of 2.71, a current ratio of 3.52 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $305.19, a P/E ratio of -2.36 and a beta of 0.81.

Nordic American Tanker (NYSE:NAT) last released its earnings results on Monday, February 12th. The shipping company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Nordic American Tanker had a negative return on equity of 9.11% and a negative net margin of 48.82%. The business had revenue of $36.72 million during the quarter, compared to analysts’ expectations of $45.46 million. sell-side analysts forecast that Nordic American Tanker Ltd will post -0.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be paid a $0.03 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $0.12 dividend on an annualized basis and a yield of 5.58%. Nordic American Tanker’s payout ratio is -13.19%.

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Nordic American Tanker by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after buying an additional 4,454 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Nordic American Tanker during the 3rd quarter worth $158,000. Wilbanks Smith & Thomas Asset Management LLC grew its position in shares of Nordic American Tanker by 157.2% during the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 67,464 shares of the shipping company’s stock worth $166,000 after buying an additional 41,232 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Nordic American Tanker during the 3rd quarter worth $241,000. Finally, Millennium Management LLC grew its position in shares of Nordic American Tanker by 257.3% during the 4th quarter. Millennium Management LLC now owns 99,981 shares of the shipping company’s stock worth $246,000 after buying an additional 72,002 shares in the last quarter. Institutional investors and hedge funds own 17.33% of the company’s stock.

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About Nordic American Tanker

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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