Nordic American Tankers (NYSE:NAT) Shares Gap Down to $4.13

Nordic American Tankers Limited (NYSE:NAT) shares gapped down before the market opened on Friday . The stock had previously closed at $4.13, but opened at $4.04. Nordic American Tankers shares last traded at $4.07, with a volume of 114,147 shares.

Analyst Upgrades and Downgrades

NAT has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their target price on Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Nordic American Tankers currently has an average rating of “Moderate Buy” and an average target price of $5.17.

Nordic American Tankers Price Performance

The firm has a market cap of $831.01 million, a P/E ratio of 12.44 and a beta of -0.12. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $4.06 and its two-hundred day moving average is $4.12.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Wednesday, May 29th. The shipping company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.04). The business had revenue of $60.57 million for the quarter, compared to analyst estimates of $66.19 million. Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. As a group, analysts anticipate that Nordic American Tankers Limited will post 0.47 earnings per share for the current year.

Nordic American Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.06%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 150.00%.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors have recently modified their holdings of NAT. Diversify Advisory Services LLC acquired a new position in Nordic American Tankers during the 1st quarter valued at about $41,000. Kingswood Wealth Advisors LLC bought a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $43,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Nordic American Tankers during the first quarter valued at approximately $45,000. SG Americas Securities LLC bought a new stake in Nordic American Tankers during the first quarter worth $47,000. Finally, Seelaus Asset Management LLC purchased a new stake in Nordic American Tankers in the 1st quarter valued at $59,000. 44.29% of the stock is owned by institutional investors and hedge funds.

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.