Nordic American Tankers (NYSE:NAT) Reaches New 52-Week Low - Time to Sell?

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $2.41 and last traded at $2.42, with a volume of 926700 shares changing hands. The stock had previously closed at $2.47.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Nordic American Tankers from a "sell" rating to a "hold" rating in a report on Monday, December 2nd. Jefferies Financial Group reiterated a "hold" rating and issued a $3.50 target price on shares of Nordic American Tankers in a research note on Friday, November 29th.

Nordic American Tankers Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The stock has a 50-day moving average price of $2.91 and a 200-day moving average price of $3.44. The stock has a market cap of $511.55 million, a P/E ratio of 8.45 and a beta of -0.26.

Nordic American Tankers Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a dividend yield of 19.59%. The ex-dividend date is Tuesday, December 17th. Nordic American Tankers's dividend payout ratio (DPR) is currently 55.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Nordic American Tankers by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company's stock worth $46,195,000 after purchasing an additional 621,588 shares during the last quarter. Two Sigma Advisers LP lifted its position in Nordic American Tankers by 67.6% in the 3rd quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company's stock worth $13,851,000 after buying an additional 1,521,900 shares during the last quarter. American Century Companies Inc. boosted its stake in Nordic American Tankers by 40.5% in the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company's stock worth $13,928,000 after buying an additional 1,009,096 shares in the last quarter. Millennium Management LLC grew its position in Nordic American Tankers by 122.8% during the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company's stock valued at $5,141,000 after acquiring an additional 711,973 shares during the last quarter. Finally, Philip James Wealth Mangement LLC purchased a new position in shares of Nordic American Tankers during the third quarter worth approximately $4,069,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.