Nordic American Tankers (NYSE:NAT) Sets New 1-Year Low - Time to Sell?

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $3.31 and last traded at $3.31, with a volume of 138590 shares changing hands. The stock had previously closed at $3.35.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NAT. Evercore ISI lowered their price objective on Nordic American Tankers from $4.50 to $4.00 and set an "in-line" rating on the stock in a research note on Friday, August 30th. Jefferies Financial Group reissued a "hold" rating and issued a $4.00 price objective on shares of Nordic American Tankers in a report on Thursday, September 12th. Finally, StockNews.com raised shares of Nordic American Tankers from a "sell" rating to a "hold" rating in a research note on Wednesday, October 2nd.

Nordic American Tankers Price Performance

The stock has a 50-day simple moving average of $3.62 and a 200 day simple moving average of $3.81. The company has a market cap of $698.44 million, a PE ratio of 11.53 and a beta of -0.20. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same period in the previous year, the firm earned $0.13 EPS. Equities analysts expect that Nordic American Tankers Limited will post 0.32 EPS for the current year.

Nordic American Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 14.35%. Nordic American Tankers's payout ratio is currently 165.52%.

Institutional Investors Weigh In On Nordic American Tankers

Several institutional investors and hedge funds have recently modified their holdings of NAT. TrueMark Investments LLC acquired a new stake in shares of Nordic American Tankers during the second quarter worth about $4,373,000. American Century Companies Inc. increased its stake in Nordic American Tankers by 40.5% during the 2nd 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 during the period. Millennium Management LLC lifted its holdings in Nordic American Tankers by 122.8% during the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company's stock worth $5,141,000 after buying an additional 711,973 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in Nordic American Tankers during the 1st quarter worth approximately $2,443,000. Finally, Dimensional Fund Advisors LP boosted its position in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company's stock valued at $46,195,000 after buying an additional 621,588 shares during the period. Hedge funds and other institutional investors own 44.29% of the company's stock.

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.