Nordic American Tankers (NYSE:NAT) Shares Down 6.1%

Nordic American Tankers Limited (NYSE:NATGet Rating) shares dropped 6.1% during mid-day trading on Monday . The company traded as low as $2.50 and last traded at $2.62. Approximately 150,109 shares traded hands during trading, a decline of 97% from the average daily volume of 5,263,501 shares. The stock had previously closed at $2.79.

Separately, Zacks Investment Research cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.33.

The firm has a market capitalization of $466.24 million, a PE ratio of -3.53 and a beta of 0.21. The company has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $2.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.28 and a current ratio of 1.59.

Nordic American Tankers (NYSE:NATGet Rating) last issued its earnings results on Friday, February 25th. The shipping company reported ($0.12) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.12). Nordic American Tankers had a negative return on equity of 19.85% and a negative net margin of 176.94%. The business had revenue of $22.63 million during the quarter, compared to analysts’ expectations of $26.78 million. During the same period in the prior year, the business earned ($0.19) EPS. On average, equities analysts anticipate that Nordic American Tankers Limited will post -0.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Friday, March 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, March 10th. Nordic American Tankers’s dividend payout ratio is -5.48%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Nordic American Tankers by 3.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 233,443 shares of the shipping company’s stock worth $598,000 after acquiring an additional 8,836 shares in the last quarter. Citigroup Inc. raised its position in shares of Nordic American Tankers by 126.4% in the 3rd quarter. Citigroup Inc. now owns 17,382 shares of the shipping company’s stock worth $44,000 after acquiring an additional 9,704 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Nordic American Tankers by 13.6% in the 4th quarter. California State Teachers Retirement System now owns 92,291 shares of the shipping company’s stock worth $156,000 after acquiring an additional 11,084 shares in the last quarter. Deutsche Bank AG raised its position in shares of Nordic American Tankers by 16.4% in the 4th quarter. Deutsche Bank AG now owns 102,179 shares of the shipping company’s stock worth $173,000 after acquiring an additional 14,417 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Nordic American Tankers in the 3rd quarter worth $41,000. 28.96% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile (NYSE:NAT)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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