Nordic American Tankers (NYSE:NAT) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Nordic American Tankers (NYSE:NAT) from a hold rating to a sell rating in a research note published on Tuesday.

Separately, Jefferies Financial Group lowered their price target on Nordic American Tankers from $5.50 to $5.00 and set a buy rating for the company in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $5.17.

Nordic American Tankers Trading Down 1.4 %

Nordic American Tankers stock opened at $3.53 on Tuesday. The stock has a market cap of $737.05 million, a PE ratio of 11.03 and a beta of -0.16. The stock has a 50-day moving average price of $3.83 and a 200 day moving average price of $3.98. Nordic American Tankers has a 52 week low of $3.31 and a 52 week high of $4.83. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Wednesday, May 29th. The shipping company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $60.57 million for the quarter, compared to analysts’ expectations of $66.19 million. Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. Equities research analysts predict that Nordic American Tankers will post 0.41 earnings per share for the current fiscal year.

Nordic American Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Friday, June 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 13.60%. The ex-dividend date was Friday, June 28th. Nordic American Tankers’s dividend payout ratio (DPR) is 150.00%.

Institutional Trading of Nordic American Tankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Nordic American Tankers in the 2nd quarter valued at about $25,000. Diversify Advisory Services LLC acquired a new position in shares of Nordic American Tankers in the 1st quarter valued at about $41,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nordic American Tankers in the 1st quarter valued at about $45,000. SG Americas Securities LLC acquired a new position in shares of Nordic American Tankers in the 1st quarter valued at about $47,000. Finally, Caprock Group LLC acquired a new position in shares of Nordic American Tankers in the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

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.