Nordic American Tankers Limited (NYSE:NAT) shares were down 1.6% on Friday . The stock traded as low as $5.15 and last traded at $5.11. Approximately 434,793 shares were traded during trading, a decline of 58% from the average daily volume of 1,046,240 shares. The stock had previously closed at $5.19.

Several research analysts recently weighed in on NAT shares. Vetr upgraded Nordic American Tankers Limited from a “sell” rating to a “hold” rating and set a $7.08 price target for the company in a research report on Monday, May 15th. Maxim Group cut their price objective on Nordic American Tankers Limited from $6.00 to $5.00 and set a “sell” rating for the company in a research report on Monday, May 15th. Zacks Investment Research cut Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Jefferies Group LLC restated a “sell” rating and issued a $5.00 price objective on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. Finally, Evercore ISI cut Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and cut their price objective for the company from $6.00 to $5.00 in a research report on Friday, July 21st. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.93.

The company has a 50 day moving average of $5.29 and a 200 day moving average of $6.70. The stock’s market capitalization is $519.02 million.

Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.03. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The firm had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $42.47 million. During the same period in the previous year, the business earned $0.15 earnings per share. The business’s revenue for the quarter was down 29.2% on a year-over-year basis. On average, equities analysts predict that Nordic American Tankers Limited will post ($0.39) EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Monday, August 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.79%. The ex-dividend date of this dividend was Thursday, August 10th. Nordic American Tankers Limited’s payout ratio is currently 2,000.00%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in Nordic American Tankers Limited by 37.9% in the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 4,454 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in Nordic American Tankers Limited in the 1st quarter valued at approximately $106,000. Northstar Wealth Partners LLC purchased a new position in Nordic American Tankers Limited in the 1st quarter valued at approximately $110,000. Karp Capital Management Corp purchased a new position in Nordic American Tankers Limited in the 1st quarter valued at approximately $118,000. Finally, Airain ltd purchased a new position in Nordic American Tankers Limited in the 1st quarter valued at approximately $126,000. 23.34% of the stock is owned by hedge funds and other institutional investors.

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Nordic American Tankers Limited 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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