Nordic American Tankers Limited (NYSE:NAT – Get Free Report) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 18,647,101 shares, a growth of 75.3% from the April 15th total of 10,635,172 shares. Based on an average daily volume of 4,813,093 shares, the short-interest ratio is currently 3.9 days. Approximately 9.1% of the company’s stock are short sold.
Nordic American Tankers Stock Up 0.8%
NAT traded up $0.05 on Monday, reaching $5.52. 1,129,242 shares of the company traded hands, compared to its average volume of 4,351,419. The stock’s 50 day moving average price is $5.67 and its 200-day moving average price is $4.57. Nordic American Tankers has a 52-week low of $2.55 and a 52-week high of $6.34. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 78.94 and a beta of -0.54. 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 – Get Free Report) last posted its earnings results on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $58.76 million during the quarter, compared to the consensus estimate of $69.43 million. Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%. On average, sell-side analysts expect that Nordic American Tankers will post 0.43 EPS for the current fiscal year.
Nordic American Tankers Increases Dividend
Analyst Upgrades and Downgrades
Separately, Evercore downgraded shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nordic American Tankers currently has an average rating of “Reduce” and an average target price of $4.00.
Get Our Latest Report on Nordic American Tankers
Institutional Investors Weigh In On Nordic American Tankers
Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its stake in shares of Nordic American Tankers by 269.8% in the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock worth $319,000 after buying an additional 94,514 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Nordic American Tankers by 298.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock worth $168,000 after buying an additional 51,187 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Nordic American Tankers by 8.9% in the first quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock worth $546,000 after buying an additional 18,222 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Nordic American Tankers by 22.6% in the first quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock worth $1,054,000 after buying an additional 78,948 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Nordic American Tankers by 74.7% in the second quarter. Envestnet Asset Management Inc. now owns 38,719 shares of the shipping company’s stock worth $102,000 after buying an additional 16,560 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.
About Nordic American Tankers
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.
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