Nordic American Tankers (NYSE:NAT) Shares Gap Down – Time to Sell?

Nordic American Tankers Limited (NYSE:NAT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $5.63, but opened at $5.46. Nordic American Tankers shares last traded at $5.5150, with a volume of 906,430 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NAT. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set 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, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Trading Down 2.4%

The business has a 50 day simple moving average of $4.41 and a 200-day simple moving average of $3.78. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 78.51 and a beta of -0.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.94.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Thursday, February 26th. The shipping company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $58.76 million during the quarter, compared to analyst estimates of $69.43 million. Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%. As a group, equities analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.68 annualized dividend and a dividend yield of 12.4%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.13. Nordic American Tankers’s dividend payout ratio (DPR) is 742.86%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Silver Oak Securities Incorporated acquired a new position in shares of Nordic American Tankers during the 3rd quarter worth approximately $1,362,000. Rhumbline Advisers increased its holdings in Nordic American Tankers by 53.8% during the third quarter. Rhumbline Advisers now owns 482,172 shares of the shipping company’s stock worth $1,514,000 after buying an additional 168,660 shares during the last quarter. CenterBook Partners LP increased its holdings in Nordic American Tankers by 168.4% during the third quarter. CenterBook Partners LP now owns 1,761,198 shares of the shipping company’s stock worth $5,530,000 after buying an additional 1,104,929 shares during the last quarter. American Century Companies Inc. raised its position in Nordic American Tankers by 15.2% during the second quarter. American Century Companies Inc. now owns 4,203,395 shares of the shipping company’s stock worth $11,055,000 after acquiring an additional 554,368 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Nordic American Tankers by 140.6% in the second quarter. Bank of Montreal Can now owns 33,370 shares of the shipping company’s stock valued at $88,000 after acquiring an additional 19,500 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 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.