Nordic American Tankers Ltd. (NYSE:NAT) saw unusually-high trading volume on Wednesday . Approximately 2,420,783 shares traded hands during trading, an increase of 38% from the previous session’s volume of 1,758,395 shares.The stock last traded at $11.29 and had previously closed at $11.49.

NAT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Nordic American Tankers from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, April 27th. Jefferies Group downgraded Nordic American Tankers from a “hold” rating to an “underperform” rating and reduced their price target for the company from $12.00 to $10.00 in a report on Tuesday, May 10th. Vetr downgraded Nordic American Tankers from a “hold” rating to a “sell” rating and set a $14.14 price target on the stock. in a report on Thursday, June 23rd. Finally, ABN Amro cut Nordic American Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.20.

The firm’s 50 day moving average is $12.94 and its 200-day moving average is $13.83. The stock has a market cap of $988.76 million and a price-to-earnings ratio of 10.05.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Monday, August 8th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. During the same quarter in the prior year, the company posted $0.35 EPS. Equities analysts anticipate that Nordic American Tankers Ltd. will post $0.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.03%. The ex-dividend date is Monday, August 15th.

Several hedge funds and institutional investors have made changes to their positions in NAT. Rhumbline Advisers increased its position in shares of Nordic American Tankers by 1.9% in the fourth quarter. Rhumbline Advisers now owns 117,110 shares of the company’s stock worth $1,820,000 after buying an additional 2,160 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Nordic American Tankers by 7.0% in the fourth quarter. California Public Employees Retirement System now owns 204,200 shares of the company’s stock worth $3,173,000 after buying an additional 13,400 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Nordic American Tankers by 4.3% in the fourth quarter. New York State Common Retirement Fund now owns 87,900 shares of the company’s stock worth $1,366,000 after buying an additional 3,600 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Nordic American Tankers by 284.5% in the fourth quarter. Bank of Montreal Can now owns 164,224 shares of the company’s stock worth $2,552,000 after buying an additional 121,509 shares during the last quarter.

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.

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