Short Interest in Nordic American Tankers Limited (NYSE:NAT) Rises By 21.0%

Nordic American Tankers Limited (NYSE:NAT) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 6,960,000 shares, a growth of 21.0% from the June 30th total of 5,750,000 shares. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Trading of Nordic American Tankers

Institutional investors and hedge funds have recently bought and sold shares of the company. Diversify Advisory Services LLC bought a new stake in Nordic American Tankers during the 1st quarter valued at about $41,000. Kingswood Wealth Advisors LLC bought a new stake in Nordic American Tankers during the 4th quarter valued at about $43,000. B. Riley Wealth Advisors Inc. bought a new stake in Nordic American Tankers during the 1st quarter valued at about $45,000. SG Americas Securities LLC bought a new stake in Nordic American Tankers during the 1st quarter valued at about $47,000. Finally, Seelaus Asset Management LLC bought a new stake in Nordic American Tankers during the 1st quarter valued at about $59,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Up 1.5 %

Shares of Nordic American Tankers stock traded up $0.06 during trading on Tuesday, hitting $3.69. The company’s stock had a trading volume of 2,054,192 shares, compared to its average volume of 2,655,838. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.77. The company has a fifty day simple moving average of $3.95 and a two-hundred day simple moving average of $4.04. The company has a market capitalization of $769.43 million, a PE ratio of 11.52 and a beta of -0.16. Nordic American Tankers has a 52 week low of $3.59 and a 52 week high of $4.83.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). The business had revenue of $60.57 million during the quarter, compared to the consensus estimate of $66.19 million. Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. Equities research analysts predict that Nordic American Tankers will post 0.41 earnings per share for the current year.

Nordic American Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Friday, June 28th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a yield of 13.03%. Nordic American Tankers’s dividend payout ratio is currently 150.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NAT. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Jefferies Financial Group decreased their price target on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.17.

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.