Nordic American Tankers (NYSE:NAT) Reaches New 1-Year Low – What’s Next?

Nordic American Tankers Limited (NYSE:NAT) hit a new 52-week low on Thursday . The stock traded as low as $2.56 and last traded at $2.64, with a volume of 1034828 shares. The stock had previously closed at $2.64.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Evercore ISI decreased their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 29th. Finally, StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd.

Nordic American Tankers Stock Performance

The stock’s 50 day moving average price is $3.19 and its 200 day moving average price is $3.57. The company has a market cap of $544.96 million, a price-to-earnings ratio of 9.12 and a beta of -0.26. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Nordic American Tankers Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a dividend yield of 18.39%. The ex-dividend date is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 55.17%.

Hedge Funds Weigh In On Nordic American Tankers

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in Nordic American Tankers in the second quarter worth $25,000. Raymond James Trust N.A. acquired a new position in shares of Nordic American Tankers during the third quarter valued at $37,000. Bluefin Capital Management LLC acquired a new position in shares of Nordic American Tankers during the second quarter valued at $47,000. Caprock Group LLC bought a new position in Nordic American Tankers during the second quarter valued at about $55,000. Finally, Ballentine Partners LLC bought a new position in Nordic American Tankers during the second quarter valued at about $63,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile

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.