Nordic American Tankers Limited (NYSE:NAT) fell 1.6% on Friday . The stock traded as low as $5.15 and last traded at $5.11. 434,793 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,046,240 shares. The stock had previously closed at $5.19.

Several brokerages have weighed in on NAT. Maxim Group dropped their target price on Nordic American Tankers Limited from $6.00 to $5.00 and set a “sell” rating on the stock in a research report on Monday, May 15th. Vetr raised Nordic American Tankers Limited from a “sell” rating to a “hold” rating and set a $7.08 target price on the stock in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 target price on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. Zacks Investment Research lowered Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Evercore ISI lowered Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and dropped their target price for the stock from $6.00 to $5.00 in a research report on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company’s stock. Nordic American Tankers Limited currently has a consensus rating of “Hold” and a consensus price target of $6.93.

The company’s 50-day moving average price is $5.33 and its 200 day moving average price is $6.72. The firm’s market cap is $519.02 million.

Nordic American Tankers Limited (NYSE:NAT) last posted its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $39.10 million during the quarter, compared to analyst estimates of $42.47 million. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. Nordic American Tankers Limited’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 EPS. On average, equities research analysts predict that Nordic American Tankers Limited will post ($0.39) EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.79%. The ex-dividend date was Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio is currently 2,000.00%.

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in Nordic American Tankers Limited by 37.9% in the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after purchasing an additional 4,454 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Nordic American Tankers Limited in the first quarter worth $106,000. Northstar Wealth Partners LLC acquired a new position in Nordic American Tankers Limited in the first quarter worth $110,000. Karp Capital Management Corp acquired a new position in Nordic American Tankers Limited in the first quarter worth $118,000. Finally, Airain ltd acquired a new position in Nordic American Tankers Limited in the first quarter worth $126,000. 23.34% of the stock is currently owned by institutional investors.

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About Nordic American Tankers Limited

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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