Nordic American Tanker Ltd (NYSE:NAT) saw strong trading volume on Friday . 6,320,142 shares traded hands during trading, an increase of 259% from the previous session’s volume of 1,760,247 shares.The stock last traded at $2.28 and had previously closed at $2.24.
A number of equities analysts have recently commented on the company. Maxim Group reissued a “sell” rating and set a $1.00 price objective on shares of Nordic American Tanker in a research report on Monday, February 12th. Clarkson Capital raised Nordic American Tanker from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Morgan Stanley lowered their price objective on Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, Jefferies Group raised 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. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $3.36.
The firm has a market capitalization of $309.49, a PE ratio of -3.12 and a beta of 0.84. The company has a quick ratio of 4.10, a current ratio of 5.01 and a debt-to-equity ratio of 0.46.
Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings data on Monday, December 18th. The shipping company reported ($0.16) EPS for the quarter. Nordic American Tanker had a negative return on equity of 9.01% and a negative net margin of 48.82%. The company had revenue of $39.10 million for the quarter. equities research analysts anticipate that Nordic American Tanker Ltd will post -0.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Wednesday, February 21st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Tuesday, February 20th. Nordic American Tanker’s dividend payout ratio (DPR) is -16.44%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 683 Capital Management LLC acquired a new position in Nordic American Tanker in the fourth quarter valued at approximately $923,000. Jane Street Group LLC boosted its holdings in Nordic American Tanker by 433.5% in the fourth quarter. Jane Street Group LLC now owns 83,563 shares of the shipping company’s stock valued at $206,000 after purchasing an additional 67,899 shares in the last quarter. Millennium Management LLC boosted its holdings in Nordic American Tanker by 257.3% in the fourth quarter. Millennium Management LLC now owns 99,981 shares of the shipping company’s stock valued at $246,000 after purchasing an additional 72,002 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in Nordic American Tanker by 30.0% in the fourth quarter. Guggenheim Capital LLC now owns 1,135,640 shares of the shipping company’s stock valued at $2,792,000 after purchasing an additional 262,039 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Nordic American Tanker by 154.6% in the fourth quarter. Deutsche Bank AG now owns 237,990 shares of the shipping company’s stock valued at $584,000 after purchasing an additional 144,517 shares in the last quarter. 28.75% of the stock is owned by hedge funds and other institutional investors.
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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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