Nordic American Tanker (NAT) Shares Up 6.2%

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Nordic American Tanker Ltd (NYSE:NAT) shot up 6.2% during trading on Tuesday . The stock traded as high as $2.25 and last traded at $2.24. 1,162,711 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 1,385,158 shares. The stock had previously closed at $2.11.

Several research firms have recently commented on NAT. Maxim Group restated a “sell” rating and issued a $1.00 price target on shares of Nordic American Tanker in a report on Tuesday, August 14th. ValuEngine lowered shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded shares of Nordic American Tanker from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Tuesday, June 26th. Finally, Morgan Stanley boosted their price target on shares of Nordic American Tanker from $2.25 to $2.50 and gave the company a “$2.37” rating in a report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $2.38.

The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.53 and a current ratio of 2.91. The firm has a market cap of $293.88 million, a P/E ratio of -3.15 and a beta of 0.47.

Nordic American Tanker (NYSE:NAT) last posted its quarterly earnings data on Tuesday, August 14th. The shipping company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The firm had revenue of $27.01 million for the quarter, compared to the consensus estimate of $28.57 million. Nordic American Tanker had a negative return on equity of 13.97% and a negative net margin of 87.25%. equities analysts forecast that Nordic American Tanker Ltd will post -0.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Wednesday, August 22nd will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Tuesday, August 21st. This is a positive change from Nordic American Tanker’s previous quarterly dividend of $0.01. Nordic American Tanker’s payout ratio is -5.63%.

Several hedge funds and other institutional investors have recently bought and sold shares of NAT. BlackRock Inc. raised its stake in shares of Nordic American Tanker by 1.4% during the 4th quarter. BlackRock Inc. now owns 4,536,032 shares of the shipping company’s stock worth $11,159,000 after acquiring an additional 64,705 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Nordic American Tanker by 154.6% during the 4th quarter. Deutsche Bank AG now owns 237,990 shares of the shipping company’s stock worth $584,000 after acquiring an additional 144,517 shares in the last quarter. Millennium Management LLC raised its stake in shares of 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 in the last quarter. Wells Fargo & Company MN raised its stake in shares of Nordic American Tanker by 74.8% during the 1st quarter. Wells Fargo & Company MN now owns 794,977 shares of the shipping company’s stock worth $1,542,000 after acquiring an additional 340,098 shares in the last quarter. Finally, WealthTrust Axiom LLC raised its stake in shares of Nordic American Tanker by 8.5% during the 1st quarter. WealthTrust Axiom LLC now owns 851,359 shares of the shipping company’s stock worth $1,651,000 after acquiring an additional 66,770 shares in the last quarter. Hedge funds and other institutional investors own 25.13% of the company’s stock.

Nordic American Tanker Company Profile (NYSE:NAT)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

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