Nordic American Tankers (NYSE:NAT) Hits New 52-Week Low - Here's Why

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s share price hit a new 52-week low on Monday . The company traded as low as $3.19 and last traded at $3.19, with a volume of 349507 shares. The stock had previously closed at $3.24.

Analyst Ratings Changes

NAT has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th. Evercore ISI dropped their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an "in-line" rating on the stock in a research report on Friday, August 30th. Finally, StockNews.com lowered shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th.

Nordic American Tankers Price Performance

The stock has a market cap of $655.62 million, a P/E ratio of 10.83 and a beta of -0.21. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The company's fifty day simple moving average is $3.60 and its 200-day simple moving average is $3.79.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its quarterly earnings results 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. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, sell-side analysts forecast that Nordic American Tankers Limited will post 0.32 EPS for the current year.

Nordic American Tankers Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 15.29%. Nordic American Tankers's dividend payout ratio (DPR) is 165.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Nordic American Tankers by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company's stock worth $46,195,000 after buying an additional 621,588 shares in the last quarter. American Century Companies Inc. lifted its position 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 valued at $13,928,000 after purchasing an additional 1,009,096 shares during the period. Vanguard Group Inc. lifted its position in Nordic American Tankers by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company's stock valued at $6,595,000 after purchasing an additional 275,707 shares during the period. Millennium Management LLC increased its stake in shares of Nordic American Tankers by 122.8% in the 2nd 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 bought a new stake in shares of Nordic American Tankers in the 3rd quarter valued at about $4,069,000. Institutional investors and hedge funds own 44.29% of the company's stock.

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.