Nordic American Tanker (NAT) Shares Gap Up to $2.66

Nordic American Tanker Ltd (NYSE:NAT) shares gapped up before the market opened on Friday . The stock had previously closed at $2.84, but opened at $2.66. Nordic American Tanker shares last traded at $2.64, with a volume of 50943 shares traded.

Several research analysts have recently issued reports on NAT shares. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Maxim Group set a $1.00 price target on Nordic American Tanker and gave the stock a “sell” rating in a research note on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.60.

The company has a market capitalization of $377.64 million, a PE ratio of -4.25 and a beta of 0.58. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.69.

Nordic American Tanker (NYSE:NAT) last released its quarterly earnings results on Tuesday, May 14th. The shipping company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $53.63 million during the quarter, compared to the consensus estimate of $49.84 million. Nordic American Tanker had a negative return on equity of 7.36% and a negative net margin of 47.28%. Research analysts predict that Nordic American Tanker Ltd will post -0.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, May 24th. Nordic American Tanker’s dividend payout ratio (DPR) is presently -26.23%.

Hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP acquired a new position in Nordic American Tanker in the 4th quarter valued at about $31,000. D. E. Shaw & Co. Inc. acquired a new position in Nordic American Tanker in the 4th quarter valued at about $34,000. Mercer Global Advisors Inc. ADV acquired a new position in Nordic American Tanker in the 1st quarter valued at about $35,000. BNP Paribas Arbitrage SA raised its stake in Nordic American Tanker by 351.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 29,305 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 22,817 shares during the last quarter. Finally, Good Life Advisors LLC acquired a new position in Nordic American Tanker in the 4th quarter valued at about $62,000. 26.44% of the stock is owned by hedge funds and other institutional investors.

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Nordic American Tanker 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 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

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