Nordic American Tankers (NYSE:NAT) Shares Gap Down – Should You Sell?

Nordic American Tankers Limited (NYSE:NAT)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $3.74, but opened at $3.62. Nordic American Tankers shares last traded at $3.6750, with a volume of 1,019,784 shares traded.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NAT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday. Evercore ISI boosted their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Nordic American Tankers presently has an average rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Trading Down 1.6%

The firm has a 50-day moving average of $3.57 and a 200 day moving average of $3.13. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $735.83 million, a price-to-earnings ratio of 173.84 and a beta of -0.45.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. The business had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. As a group, equities analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a dividend of $0.13 per share. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, December 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 15.0%. Nordic American Tankers’s payout ratio is presently 2,600.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its holdings in Nordic American Tankers by 21.4% during the third quarter. Sequoia Financial Advisors LLC now owns 19,260 shares of the shipping company’s stock worth $60,000 after purchasing an additional 3,395 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Nordic American Tankers by 8.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 44,932 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 3,445 shares during the period. Franklin Resources Inc. raised its stake in shares of Nordic American Tankers by 15.9% in the 3rd quarter. Franklin Resources Inc. now owns 27,236 shares of the shipping company’s stock worth $86,000 after buying an additional 3,735 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Nordic American Tankers by 19.4% in the first quarter. Russell Investments Group Ltd. now owns 23,886 shares of the shipping company’s stock valued at $59,000 after buying an additional 3,875 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in Nordic American Tankers by 21.4% during the second quarter. Prospera Financial Services Inc now owns 24,680 shares of the shipping company’s stock valued at $65,000 after buying an additional 4,343 shares in 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.