Nordic American Tankers (NYSE:NAT) Stock Price Down 2.8% - Should You Sell?

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s stock price dropped 2.8% during mid-day trading on Monday . The stock traded as low as $2.45 and last traded at $2.46. 401,426 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 2,536,792 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Wednesday, April 9th. Jefferies Financial Group reiterated a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Stock Up 3.1 %

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 firm has a market capitalization of $525.13 million, a P/E ratio of 8.67 and a beta of 0.02. The stock has a fifty day moving average price of $2.51 and a two-hundred day moving average price of $2.80.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The business had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Research analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.06 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a yield of 9.54%. Nordic American Tankers's dividend payout ratio is presently 109.09%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bridgeway Capital Management LLC acquired a new stake in shares of Nordic American Tankers in the fourth quarter valued at $2,072,000. Victory Capital Management Inc. lifted its holdings in Nordic American Tankers by 834.7% in the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company's stock valued at $1,363,000 after acquiring an additional 486,710 shares during the last quarter. Norges Bank bought a new position in shares of Nordic American Tankers during the 4th quarter valued at about $1,202,000. Renaissance Technologies LLC grew its stake in shares of Nordic American Tankers by 68.8% in the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company's stock worth $2,445,000 after purchasing an additional 398,700 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Nordic American Tankers by 2,001.0% in the 4th quarter. Squarepoint Ops LLC now owns 413,568 shares of the shipping company's stock worth $1,034,000 after purchasing an additional 393,884 shares in the last quarter. 44.29% of the stock is owned by institutional investors and hedge funds.

About Nordic American Tankers

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.