Nordic American Tankers Limited (NYSE:NAT) hit a new 52-week low on Wednesday . The company traded as low as $3.79 and last traded at $3.86, with a volume of 891400 shares trading hands. The stock had previously closed at $3.89.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Morgan Stanley cut their price objective on shares of Nordic American Tankers from $6.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Maxim Group restated a “sell” rating on shares of Nordic American Tankers in a research note on Monday, November 6th. Finally, TheStreet lowered Nordic American Tankers from a “c-” rating to a “d+” rating in a report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.67.
The company has a market capitalization of $393.52, a price-to-earnings ratio of 96.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.69 and a quick ratio of 3.87.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Monday, November 13th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Friday, November 10th.
Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Nordic American Tankers by 37.9% during the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after acquiring an additional 4,454 shares during the period. Aperio Group LLC grew its holdings in Nordic American Tankers by 55.2% during the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after acquiring an additional 7,994 shares during the period. Sigma Planning Corp grew its holdings in Nordic American Tankers by 44.2% during the second quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock worth $151,000 after acquiring an additional 7,318 shares during the period. Airain ltd grew its holdings in Nordic American Tankers by 79.8% during the second quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock worth $175,000 after acquiring an additional 12,256 shares during the period. Finally, SFE Investment Counsel acquired a new position in Nordic American Tankers during the second quarter worth about $186,000. 23.68% of the stock is currently owned by hedge funds and other institutional investors.
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Nordic American Tankers Company Profile
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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