Nordic American Tankers (NYSE:NAT) Hits New 1-Year High – Time to Buy?

Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week high on Monday . The stock traded as high as $4.23 and last traded at $4.1450, with a volume of 475462 shares trading hands. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NAT. Evercore ISI increased their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a research note on Friday, November 28th. Finally, Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Nordic American Tankers currently has a consensus rating of “Hold” and a consensus price target of $3.25.

Nordic American Tankers Price Performance

The company has a market cap of $862.88 million, a price-to-earnings ratio of 204.35 and a beta of -0.43. The company’s 50-day simple moving average is $3.68 and its 200-day simple moving average is $3.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.95 and a quick ratio of 1.64.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $40.18 million during the quarter, compared to analysts’ expectations of $52.89 million. Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. On average, equities research analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a dividend of $0.13 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a dividend yield of 12.8%. The ex-dividend date was Monday, December 8th. Nordic American Tankers’s payout ratio is 2,600.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in Nordic American Tankers by 99.3% in the fourth quarter. Farther Finance Advisors LLC now owns 11,294 shares of the shipping company’s stock valued at $39,000 after purchasing an additional 5,626 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Nordic American Tankers by 681.3% in the 4th quarter. State of Alaska Department of Revenue now owns 60,710 shares of the shipping company’s stock valued at $208,000 after purchasing an additional 52,940 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Nordic American Tankers by 9.5% during the 4th quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock valued at $123,000 after buying an additional 3,120 shares during the last quarter. KMG Fiduciary Partners LLC acquired a new stake in shares of Nordic American Tankers during the fourth quarter worth approximately $298,000. Finally, SG Americas Securities LLC increased its stake in shares of Nordic American Tankers by 80.0% in the fourth quarter. SG Americas Securities LLC now owns 48,893 shares of the shipping company’s stock worth $168,000 after buying an additional 21,730 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

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.