Shares of Nordic American Tanker Ltd (NYSE:NAT) rose 9.2% during trading on Thursday . The stock traded as high as $2.57 and last traded at $2.62. Approximately 41,332 shares traded hands during trading, a decline of 97% from the average daily volume of 1,278,648 shares. The stock had previously closed at $2.40.
NAT has been the topic of several research analyst reports. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Maxim Group set a $1.00 price objective on Nordic American Tanker and gave the stock a “sell” rating in a research note on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.60.
The company has a market capitalization of $312.33 million, a P/E ratio of -4.33 and a beta of 0.58. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.69.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Tuesday, May 14th. The shipping company reported $0.04 EPS for the quarter. The business had revenue of $53.63 million for the quarter, compared to the consensus estimate of $49.84 million. Nordic American Tanker had a negative return on equity of 11.00% and a negative net margin of 76.09%. Equities research analysts predict that Nordic American Tanker Ltd will post -0.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, May 24th. Nordic American Tanker’s dividend payout ratio (DPR) is presently -26.23%.
A number of hedge funds have recently added to or reduced their stakes in the business. City Financial Investment Co Ltd acquired a new position in Nordic American Tanker during the fourth quarter valued at approximately $2,532,000. Wells Fargo & Company MN grew its stake in shares of Nordic American Tanker by 161.5% in the first quarter. Wells Fargo & Company MN now owns 1,003,214 shares of the shipping company’s stock worth $2,026,000 after purchasing an additional 619,611 shares during the last quarter. Morgan Stanley grew its stake in shares of Nordic American Tanker by 6.6% in the third quarter. Morgan Stanley now owns 4,858,639 shares of the shipping company’s stock worth $10,155,000 after purchasing an additional 300,750 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Nordic American Tanker in the first quarter worth $590,000. Finally, Renaissance Technologies LLC grew its stake in shares of Nordic American Tanker by 126.8% in the first quarter. Renaissance Technologies LLC now owns 404,000 shares of the shipping company’s stock worth $816,000 after purchasing an additional 225,900 shares during the last quarter. Hedge funds and other institutional investors own 26.44% of the company’s stock.
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About Nordic American Tanker (NYSE:NAT)
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.
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