Nordic American Tankers (NYSE:NAT) Sets New 1-Year High – Should You Buy?

Shares of Nordic American Tankers Limited (NYSE:NAT) hit a new 52-week high during trading on Monday . The stock traded as high as $4.25 and last traded at $4.1090, with a volume of 3098567 shares trading hands. The stock had previously closed at $4.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research note on Tuesday, October 28th. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 28th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Nordic American Tankers currently has a consensus rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Stock Performance

The stock has a fifty day simple moving average of $3.72 and a 200-day simple moving average of $3.40. The stock has a market cap of $867.12 million, a P/E ratio of 204.85 and a beta of -0.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.64 and a current ratio of 1.95.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. On average, equities analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 12.7%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, December 8th. Nordic American Tankers’s payout ratio is 2,600.00%.

Hedge Funds Weigh In On Nordic American Tankers

Several hedge funds have recently modified their holdings of the stock. Torren Management LLC acquired a new stake in shares of Nordic American Tankers in the 4th quarter valued at approximately $34,000. BlueStem Wealth Partners LLC bought a new stake in Nordic American Tankers during the third quarter worth $32,000. HBK Sorce Advisory LLC bought a new position in shares of Nordic American Tankers in the 3rd quarter valued at about $33,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Nordic American Tankers in the 3rd quarter valued at about $32,000. Finally, Savant Capital LLC acquired a new position in shares of Nordic American Tankers during the 2nd quarter worth about $28,000. Institutional investors own 44.29% of the company’s stock.

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.