Nordic American Tankers (NYSE:NAT) Sets New 12-Month Low - Should You Sell?

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

Wall Street Analysts Forecast Growth

NAT has been the topic of several recent research reports. StockNews.com cut shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Wednesday, April 9th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 price target on shares of Nordic American Tankers in a report on Friday, February 28th.

Nordic American Tankers Stock Performance

The firm's 50-day simple moving average is $2.49 and its two-hundred day simple moving average is $2.70. The stock has a market capitalization of $560.63 million, a PE ratio of 9.26 and a beta of 0.02. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $46.39 million during 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, equities research analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders 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 dividend on an annualized basis and a yield of 8.94%. Nordic American Tankers's payout ratio is 109.09%.

Hedge Funds Weigh In On Nordic American Tankers

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

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.