Nordic American Tankers (NYSE:NAT) Hits New 52-Week High – Here’s What Happened

Nordic American Tankers Limited (NYSE:NAT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.34 and last traded at $6.13, with a volume of 764600 shares traded. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.25.

Nordic American Tankers Stock Down 1.4%

The stock has a market cap of $1.29 billion, a P/E ratio of 86.66 and a beta of -0.52. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average is $5.10 and its 200 day moving average is $4.11.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $58.76 million during the quarter, compared to the consensus estimate of $69.43 million. Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%. As a group, equities research analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were issued a $0.17 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a yield of 11.2%. Nordic American Tankers’s payout ratio is 971.43%.

Institutional Trading of Nordic American Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in Nordic American Tankers in the 4th quarter valued at approximately $34,000. BlueStem Wealth Partners LLC bought a new stake in Nordic American Tankers in the 3rd quarter valued at $32,000. HBK Sorce Advisory LLC bought a new stake in Nordic American Tankers in the 3rd quarter valued at $33,000. Vanguard Personalized Indexing Management LLC bought a new stake in Nordic American Tankers in the 3rd quarter valued at $32,000. Finally, ROI Financial Advisors LLC bought a new stake in Nordic American Tankers in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.