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Nordic American Tankers (NYSE:NAT) Downgraded to Sell Rating by StockNews.com

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StockNews.com downgraded shares of Nordic American Tankers (NYSE:NAT - Free Report) from a hold rating to a sell rating in a report published on Saturday morning.

Separately, Jefferies Financial Group reiterated a "hold" rating and set a $3.00 price objective on shares of Nordic American Tankers in a research report on Friday, February 28th.

Get Our Latest Research Report on NAT

Nordic American Tankers Price Performance

Shares of NAT stock traded up $0.01 on Friday, hitting $2.44. 2,932,959 shares of the stock traded hands, compared to its average volume of 2,469,967. The firm has a market cap of $508.42 million, a price-to-earnings ratio of 8.40 and a beta of -0.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $2.66 and a two-hundred day simple moving average of $3.04. Nordic American Tankers has a 52 week low of $2.40 and a 52 week high of $4.40.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The business had revenue of $46.39 million during the quarter, compared to analysts' expectations of $51.38 million. As a group, equities research analysts predict that Nordic American Tankers will post 0.24 earnings per share for the current fiscal year.

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Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date is Monday, March 10th. Nordic American Tankers's payout ratio is 109.09%.

Institutional Trading of Nordic American Tankers

A number of large investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. raised its stake in shares of Nordic American Tankers by 18.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 53,105 shares of the shipping company's stock valued at $135,000 after acquiring an additional 8,411 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Nordic American Tankers by 2,001.0% in the fourth 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 during the last quarter. Two Sigma Advisers LP lifted its holdings in Nordic American Tankers by 0.4% during the 4th quarter. Two Sigma Advisers LP now owns 3,787,400 shares of the shipping company's stock valued at $9,468,000 after buying an additional 13,300 shares in the last quarter. ProShare Advisors LLC boosted its position in Nordic American Tankers by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 57,408 shares of the shipping company's stock valued at $144,000 after buying an additional 18,890 shares during the period. Finally, Millennium Management LLC grew its stake in Nordic American Tankers by 9.9% in the 4th quarter. Millennium Management LLC now owns 673,097 shares of the shipping company's stock worth $1,683,000 after acquiring an additional 60,391 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors.

About Nordic American Tankers

(Get Free Report)

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.

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