Nordic American Tankers Ltd. (NYSE:NAT) shares were down 2.9% on Monday . The company traded as low as $11.79 and last traded at $11.86, with a volume of 945,167 shares trading hands. The stock had previously closed at $12.21.

A number of analysts have recently commented on the company. Jefferies Group set a $8.00 target price on Nordic American Tankers and gave the stock an “underperform” rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded Nordic American Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. ABN Amro downgraded Nordic American Tankers from a “buy” rating to a “sell” rating in a research note on Thursday, June 30th. Finally, Vetr downgraded Nordic American Tankers from a “sell” rating to a “strong sell” rating and set a $14.14 target price on the stock. in a research note on Thursday, June 9th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.20.

The firm has a market cap of $1.01 billion and a P/E ratio of 10.2685. The stock has a 50-day moving average price of $13.03 and a 200 day moving average price of $13.85.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. During the same period in the previous year, the company earned $0.35 EPS. Analysts forecast that Nordic American Tankers Ltd. will post $0.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date is Monday, August 15th.

Other hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in 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 period. California Public Employees Retirement System boosted its stake in 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 period. New York State Common Retirement Fund boosted its stake in 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 period. Finally, Bank of Montreal Can boosted its stake in 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 period.

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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