Nordic American Tanker Ltd (NYSE:NAT) shares were down 0% during mid-day trading on Tuesday . The company traded as low as $2.21 and last traded at $2.22. Approximately 1,509,699 shares changed hands during trading, a decline of 19% from the average daily volume of 1,866,033 shares. The stock had previously closed at $2.22.
A number of research analysts recently issued reports on NAT shares. Zacks Investment Research upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Morgan Stanley reduced their price objective on Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Seaport Global Securities set a $3.00 price objective on Nordic American Tanker and gave the company a “hold” rating in a research report on Friday, January 5th. Maxim Group restated a “sell” rating on shares of Nordic American Tanker in a research report on Monday, November 6th. Finally, Jefferies Group upgraded Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price objective for the company in a research report on Thursday, December 14th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $3.36.
The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.71 and a current ratio of 3.52. The firm has a market capitalization of $322.27, a PE ratio of -3.04 and a beta of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.12 dividend on an annualized basis and a yield of 5.41%. Nordic American Tanker’s dividend payout ratio (DPR) is presently -16.44%.
Hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in Nordic American Tanker during the 3rd quarter worth $158,000. Wilbanks Smith & Thomas Asset Management LLC boosted its position in Nordic American Tanker by 157.2% during the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 67,464 shares of the shipping company’s stock worth $166,000 after acquiring an additional 41,232 shares during the period. Jane Street Group LLC boosted its position in Nordic American Tanker by 433.5% during the 4th quarter. Jane Street Group LLC now owns 83,563 shares of the shipping company’s stock worth $206,000 after acquiring an additional 67,899 shares during the period. Belpointe Asset Management LLC acquired a new position in Nordic American Tanker during the 3rd quarter worth $241,000. Finally, Millennium Management LLC boosted its position in Nordic American Tanker by 257.3% during the 4th quarter. Millennium Management LLC now owns 99,981 shares of the shipping company’s stock worth $246,000 after acquiring an additional 72,002 shares during the period. Institutional investors own 21.86% of the company’s stock.
Nordic American Tanker Company Profile
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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