Nordic American Tankers Limited (NYSE:NAT) Short Interest Update

Nordic American Tankers Limited (NYSE:NAT) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 18,647,101 shares, an increase of 75.3% from the April 15th total of 10,635,172 shares. Approximately 9.1% of the shares of the stock are short sold. Based on an average trading volume of 4,813,093 shares, the days-to-cover ratio is presently 3.9 days.

Wall Street Analyst Weigh In

Separately, Evercore downgraded shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $4.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NAT. SmartHarvest Portfolios LLC increased its holdings in shares of Nordic American Tankers by 18.0% in the first quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 2,087 shares during the last quarter. ProShare Advisors LLC grew its holdings in Nordic American Tankers by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company’s stock valued at $129,000 after buying an additional 2,416 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Nordic American Tankers by 4.7% in the 4th quarter. Cerity Partners LLC now owns 54,470 shares of the shipping company’s stock worth $187,000 after acquiring an additional 2,449 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Nordic American Tankers by 9.5% in the fourth quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock valued at $123,000 after purchasing an additional 3,120 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Nordic American Tankers by 21.4% during the third quarter. Sequoia Financial Advisors LLC now owns 19,260 shares of the shipping company’s stock worth $60,000 after purchasing an additional 3,395 shares during the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Price Performance

Shares of NYSE:NAT traded up $0.03 during trading on Tuesday, reaching $5.53. The stock had a trading volume of 97,505 shares, compared to its average volume of 4,315,034. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.94 and a current ratio of 2.24. Nordic American Tankers has a 1-year low of $2.55 and a 1-year high of $6.34. The stock has a market cap of $1.17 billion, a PE ratio of 78.94 and a beta of -0.54. The business has a fifty day moving average price of $5.67 and a 200-day moving average price of $4.59.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, February 27th. The shipping company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $58.76 million during the quarter, compared to analysts’ expectations of $69.43 million. On average, equities analysts forecast that Nordic American Tankers will post 0.43 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.68 annualized dividend and a yield of 12.3%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.13. Nordic American Tankers’s dividend payout ratio is currently 971.43%.

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.