Nordic American Tankers (NYSE:NAT) Shares Down 4.1% – Time to Sell?

Shares of Nordic American Tankers Limited (NYSE:NAT) were down 4.1% on Thursday . The company traded as low as $2.81 and last traded at $2.83. Approximately 957,119 shares changed hands during trading, a decline of 69% from the average daily volume of 3,133,204 shares. The stock had previously closed at $2.95.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NAT. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research note on Friday, November 29th. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd.

Nordic American Tankers Price Performance

The firm has a 50-day moving average of $2.76 and a 200-day moving average of $3.32. The stock has a market cap of $587.77 million, a PE ratio of 9.71 and a beta of -0.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56.

Nordic American Tankers Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a dividend yield of 17.05%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers’s payout ratio is currently 55.17%.

Institutional Investors Weigh In On Nordic American Tankers

A number of hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Nordic American Tankers in the 2nd quarter worth approximately $25,000. Raymond James Trust N.A. bought a new stake in Nordic American Tankers in the third quarter worth $37,000. Bluefin Capital Management LLC purchased a new stake in Nordic American Tankers during the second quarter valued at $47,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Nordic American Tankers by 50.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock worth $66,000 after buying an additional 5,347 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Nordic American Tankers by 99.8% in the 3rd quarter. Franklin Resources Inc. now owns 25,333 shares of the shipping company’s stock worth $92,000 after buying an additional 12,651 shares during the last quarter. 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.