Nordic American Tanker (NYSE:NAT) Shares Gap Up to $3.70

Nordic American Tanker Ltd (NYSE:NAT) shares gapped up before the market opened on Friday . The stock had previously closed at $3.80, but opened at $3.70. Nordic American Tanker shares last traded at $3.85, with a volume of 1,705,134 shares traded.

Several equities analysts have recently commented on NAT shares. Zacks Investment Research upgraded Nordic American Tanker from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Thursday, November 28th. TheStreet upgraded Nordic American Tanker from a “d+” rating to a “c-” rating in a report on Monday, October 21st. ValuEngine lowered shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. BTIG Research upgraded shares of Nordic American Tanker from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday, October 7th. Finally, B. Riley set a $5.00 target price on shares of Nordic American Tanker and gave the company a “buy” rating in a research report on Friday, August 16th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $3.50.

The company has a market cap of $567.88 million, a P/E ratio of -6.56 and a beta of 0.72. The company has a quick ratio of 1.83, a current ratio of 2.18 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $3.66 and its 200 day moving average is $2.57.

Nordic American Tanker (NYSE:NAT) last posted its earnings results on Monday, November 25th. The shipping company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $32.35 million for the quarter, compared to analysts’ expectations of $45.03 million. Nordic American Tanker had a negative return on equity of 5.14% and a negative net margin of 20.86%. As a group, equities research analysts forecast that Nordic American Tanker Ltd will post 0.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, December 4th. Nordic American Tanker’s payout ratio is -13.11%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Man Group plc bought a new stake in shares of Nordic American Tanker in the 2nd quarter valued at about $25,000. Paloma Partners Management Co bought a new position in shares of Nordic American Tanker during the 2nd quarter worth approximately $25,000. Chicago Equity Partners LLC purchased a new stake in Nordic American Tanker during the second quarter valued at approximately $26,000. GWM Advisors LLC purchased a new stake in Nordic American Tanker during the second quarter valued at approximately $28,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nordic American Tanker during the second quarter valued at approximately $56,000. Hedge funds and other institutional investors own 24.41% of the company’s stock.

Nordic American Tanker Company Profile (NYSE:NAT)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

Recommended Story: Investing in Blue-Chip Stocks

Receive News & Ratings for Nordic American Tanker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tanker and related companies with MarketBeat.com's FREE daily email newsletter.