Short Interest in Nordic American Tankers Limited (NYSE:NAT) Rises By 21.0%

Nordic American Tankers Limited (NYSE:NAT) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totalling 6,960,000 shares, an increase of 21.0% from the June 30th total of 5,750,000 shares. Based on an average daily volume of 2,310,000 shares, the short-interest ratio is presently 3.0 days.

Nordic American Tankers Stock Up 1.5 %

Shares of NYSE NAT traded up $0.06 during mid-day trading on Tuesday, reaching $3.69. 2,054,192 shares of the company’s stock traded hands, compared to its average volume of 2,655,838. The stock has a market cap of $769.43 million, a P/E ratio of 11.52 and a beta of -0.16. The business has a 50-day simple moving average of $3.95 and a 200 day simple moving average of $4.04. Nordic American Tankers has a 1-year low of $3.59 and a 1-year high of $4.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.60.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). Nordic American Tankers had a return on equity of 12.43% and a net margin of 28.37%. The firm had revenue of $60.57 million for the quarter, compared to analysts’ expectations of $66.19 million. On average, analysts expect that Nordic American Tankers will post 0.41 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, June 28th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 13.03%. The ex-dividend date of this dividend was Friday, June 28th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC purchased a new position in Nordic American Tankers during the first quarter worth about $41,000. Kingswood Wealth Advisors LLC purchased a new position in Nordic American Tankers in the fourth quarter valued at about $43,000. B. Riley Wealth Advisors Inc. purchased a new position in Nordic American Tankers in the first quarter valued at about $45,000. SG Americas Securities LLC purchased a new position in Nordic American Tankers in the first quarter valued at about $47,000. Finally, Seelaus Asset Management LLC purchased a new position in Nordic American Tankers in the first quarter valued at about $59,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Nordic American Tankers has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.