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

Nordic American Tankers Limited (NYSE:NAT) shares hit a new 52-week low on Monday . The stock traded as low as $2.41 and last traded at $2.42, with a volume of 926700 shares. The stock had previously closed at $2.47.

Analyst Ratings Changes

Several research firms have recently commented on NAT. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Jefferies Financial Group restated a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 29th.

Nordic American Tankers Trading Up 2.0 %

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 business’s 50-day simple moving average is $2.87 and its 200-day simple moving average is $3.42. The company has a market cap of $521.99 million, a price-to-earnings ratio of 8.62 and a beta of -0.26.

Nordic American Tankers Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a yield of 19.20%. Nordic American Tankers’s dividend payout ratio (DPR) is 55.17%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NAT. B. Riley Wealth Advisors Inc. raised its stake in Nordic American Tankers by 50.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock worth $66,000 after purchasing an additional 5,347 shares during the period. Headlands Technologies LLC acquired a new stake in Nordic American Tankers during the second quarter worth about $25,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nordic American Tankers by 26.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock worth $122,000 after purchasing an additional 6,940 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Nordic American Tankers by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock valued at $1,796,000 after purchasing an additional 7,382 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Nordic American Tankers by 9.1% during the 2nd quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock worth $365,000 after purchasing an additional 7,663 shares during the period. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.