Nordic American Tanker (NAT) Stock Price Up 7.1%

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Nordic American Tanker Ltd (NYSE:NAT) rose 7.1% during mid-day trading on Tuesday . The company traded as high as $3.31 and last traded at $3.31. Approximately 4,358,026 shares were traded during trading, an increase of 236% from the average daily volume of 1,298,175 shares. The stock had previously closed at $3.09.

NAT has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Nordic American Tanker from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. BTIG Research initiated coverage on shares of Nordic American Tanker in a report on Thursday, September 27th. They set a “neutral” rating for the company. ValuEngine lowered shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Maxim Group reaffirmed a “sell” rating and set a $1.00 price objective on shares of Nordic American Tanker in a report on Tuesday, August 14th. Finally, Morgan Stanley increased their price objective 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Nordic American Tanker currently has an average rating of “Hold” and a consensus price target of $2.42.

The company has a current ratio of 2.91, a quick ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market cap of $425.91 million, a PE ratio of -4.66 and a beta of -0.12.

Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings data on Tuesday, August 14th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). Nordic American Tanker had a negative net margin of 87.25% and a negative return on equity of 13.97%. The company had revenue of $27.01 million for the quarter, compared to analysts’ expectations of $28.57 million. Analysts predict that Nordic American Tanker Ltd will post -0.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.10 per share. This is a positive change from Nordic American Tanker’s previous quarterly dividend of $0.02. This represents a $0.40 dividend on an annualized basis and a yield of 12.08%. The ex-dividend date is Tuesday, November 20th. Nordic American Tanker’s dividend payout ratio (DPR) is -11.27%.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Nordic American Tanker by 9.3% in the second quarter. BlackRock Inc. now owns 7,120,379 shares of the shipping company’s stock valued at $19,083,000 after purchasing an additional 607,170 shares in the last quarter. Greylin Investment Mangement Inc. grew its holdings in shares of Nordic American Tanker by 16.3% in the second quarter. Greylin Investment Mangement Inc. now owns 1,656,895 shares of the shipping company’s stock valued at $4,440,000 after purchasing an additional 232,599 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of Nordic American Tanker by 33.9% in the first quarter. Guggenheim Capital LLC now owns 1,520,415 shares of the shipping company’s stock valued at $2,950,000 after purchasing an additional 384,775 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Nordic American Tanker by 40.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,491,784 shares of the shipping company’s stock valued at $3,998,000 after purchasing an additional 430,372 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Nordic American Tanker by 8.0% in the second quarter. Northern Trust Corp now owns 1,264,759 shares of the shipping company’s stock valued at $3,389,000 after purchasing an additional 93,308 shares in the last quarter. 24.84% of the stock is owned by hedge funds and other institutional investors.

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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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