Nordic American Tankers (NYSE:NAT) Reaches New 12-Month Low - Time to Sell?

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $2.51 and last traded at $2.56, with a volume of 3448154 shares traded. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NAT shares. Jefferies Financial Group restated a "hold" rating and set a $3.00 target price on shares of Nordic American Tankers in a report on Friday, February 28th. StockNews.com cut Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Wednesday, April 9th.

Nordic American Tankers Stock Performance

The firm's fifty day simple moving average is $2.49 and its 200 day simple moving average is $2.73. 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 company has a market capitalization of $534.53 million, a price-to-earnings ratio of 8.83 and a beta of 0.02.

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

Nordic American Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 9.38%. The ex-dividend date of this dividend was Monday, March 10th. Nordic American Tankers's dividend payout ratio is currently 109.09%.

Institutional Trading of Nordic American Tankers

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new position in Nordic American Tankers in the 4th quarter valued at approximately $26,000. Summit Financial LLC acquired a new position in shares of Nordic American Tankers in the fourth quarter worth $32,000. Avantax Advisory Services Inc. purchased a new stake in shares of Nordic American Tankers during the fourth quarter worth $33,000. Red Door Wealth Management LLC acquired a new stake in Nordic American Tankers during the first quarter valued at $39,000. Finally, AXQ Capital LP purchased a new position in Nordic American Tankers in the fourth quarter valued at about $43,000. 44.29% of the stock is owned by hedge funds and other institutional investors.

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.

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