Nordic American Tankers Ltd. (NAT) Sees Unusually-High Trading Volume
Nordic American Tankers Ltd. (NYSE:NAT) shares saw an uptick in trading volume on Wednesday . 2,420,783 shares changed 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.
A number of brokerages recently issued reports on NAT. Vetr cut shares of Nordic American Tankers from a “buy” rating to a “hold” rating and set a $14.14 price objective for the company. in a report on Monday, May 23rd. Zacks Investment Research cut shares of Nordic American Tankers from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 19th. Seaport Global Securities cut shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Wednesday, May 4th. Finally, Jefferies Group set a $8.00 price target on shares of Nordic American Tankers and gave the company an “underperform” rating in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.20.
The company has a market capitalization of $979.83 million and a P/E ratio of 9.96. The firm’s 50-day moving average is $12.86 and its 200-day moving average is $13.81.
Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. During the same quarter last year, the company earned $0.35 earnings per share. On average, equities analysts expect that Nordic American Tankers Ltd. will post $0.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.98%.
A number of hedge funds and institutional investors have modified their holdings of NAT. California Public Employees Retirement System raised 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 period. Bank of Montreal Can raised 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 period. Finally, Rhumbline Advisers raised 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 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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