Nordic American Tankers Limited (NYSE:NAT) Short Interest Down 14.9% in April

Nordic American Tankers Limited (NYSE:NAT) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 10,635,172 shares, a drop of 14.9% from the March 31st total of 12,495,236 shares. Based on an average daily trading volume, of 4,975,651 shares, the short-interest ratio is presently 2.1 days. Approximately 5.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore cut shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target for the company. in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Stock Up 3.1%

NAT stock traded up $0.18 during midday trading on Friday, hitting $5.76. The company’s stock had a trading volume of 2,943,254 shares, compared to its average volume of 4,573,102. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.87. Nordic American Tankers has a 52-week low of $2.54 and a 52-week high of $6.34. The firm has a market capitalization of $1.22 billion, a P/E ratio of 82.23 and a beta of -0.54. The firm has a 50-day simple moving average of $5.60 and a 200-day simple moving average of $4.41.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%. The business had revenue of $58.76 million during the quarter, compared to analysts’ expectations of $69.43 million. As a group, equities analysts forecast that Nordic American Tankers will post 0.43 EPS for the current year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date was Tuesday, March 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.13. Nordic American Tankers’s dividend payout ratio (DPR) is 971.43%.

Institutional Investors Weigh In On Nordic American Tankers

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nordic American Tankers in the 3rd quarter valued at $32,000. BlueStem Wealth Partners LLC acquired a new stake in shares of Nordic American Tankers in the 3rd quarter valued at $32,000. HBK Sorce Advisory LLC acquired a new stake in Nordic American Tankers during the 3rd quarter worth $34,000. Torren Management LLC acquired a new stake in Nordic American Tankers during the 4th quarter worth $34,000. Finally, Caprock Group LLC acquired a new stake in Nordic American Tankers during the 3rd quarter worth $36,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.