Investors Purchase Large Volume of Call Options on Nordic American Tankers (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT) was the target of some unusual options trading on Wednesday. Stock traders bought 82,407 call options on the company. This is an increase of approximately 3,548% compared to the average volume of 2,259 call options.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock traded up $0.13 during trading hours on Wednesday, reaching $7.27. 4,094,306 shares of the stock traded hands, compared to its average volume of 4,136,187. Nordic American Tankers has a one year low of $3.06 and a one year high of $7.34. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 12.32 and a beta of -0.54. The company has a quick ratio of 3.05, a current ratio of 3.27 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $6.49 and a 200 day moving average price of $5.90.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Thursday, August 27th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Nordic American Tankers had a net margin of 47.04% and a return on equity of 20.58%. The company had revenue of $79.30 million for the quarter, compared to the consensus estimate of $84.18 million. On average, equities research analysts expect that Nordic American Tankers will post 0.6 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.08 dividend on an annualized basis and a yield of 14.9%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.22. Nordic American Tankers’s payout ratio is 149.15%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Nordic American Tankers by 269.8% in the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock worth $319,000 after acquiring an additional 94,514 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Nordic American Tankers by 298.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock worth $168,000 after purchasing an additional 51,187 shares in the last quarter. Empowered Funds LLC boosted its stake in Nordic American Tankers by 8.9% in the 1st quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock worth $546,000 after purchasing an additional 18,222 shares during the period. Jane Street Group LLC boosted its stake in Nordic American Tankers by 22.6% in the 1st quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock worth $1,054,000 after purchasing an additional 78,948 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Nordic American Tankers by 74.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 38,719 shares of the shipping company’s stock valued at $102,000 after buying an additional 16,560 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

NAT has been the subject of a number of recent research reports. B Riley restated a “buy” rating on shares of Nordic American Tankers in a report on Friday, August 28th. B. Riley Financial boosted their target price on Nordic American Tankers from $7.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Wall Street Zen raised Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings downgraded Nordic American Tankers from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.33.

About Nordic American Tankers

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.