Nordic American Tankers (NYSE:NAT) Sets New 12-Month Low – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NAT shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.00 price objective 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 Trading Down 6.0 %

The firm has a market cap of $461.44 million, a price-to-earnings ratio of 7.62 and a beta of -0.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The business has a 50-day moving average of $2.58 and a 200-day moving average of $2.90.

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

Nordic American Tankers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 10.86%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 109.09%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NAT. Two Sigma Advisers LP increased its holdings in Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after purchasing an additional 1,521,900 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in Nordic American Tankers in the 4th quarter worth about $2,072,000. Victory Capital Management Inc. grew its holdings in Nordic American Tankers by 834.7% during the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock valued at $1,363,000 after buying an additional 486,710 shares in the last quarter. Norges Bank bought a new position in shares of Nordic American Tankers in the fourth quarter worth approximately $1,202,000. Finally, Renaissance Technologies LLC lifted its position in Nordic American Tankers by 68.8% in the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock worth $2,445,000 after buying an additional 398,700 shares during the last quarter. 44.29% of the stock is owned by institutional investors.

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.