Shares of Nordic American Tankers Limited (NYSE:NAT) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.79 and last traded at $3.86, with a volume of 891400 shares trading hands. The stock had previously closed at $3.89.

Several analysts recently issued reports on NAT shares. Zacks Investment Research downgraded shares of Nordic American Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 10th. Maxim Group reissued a “sell” rating and issued a $3.00 price target (down previously from $4.00) on shares of Nordic American Tankers in a research report on Monday, October 23rd. Morgan Stanley reduced their price target on shares of Nordic American Tankers from $6.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Finally, TheStreet downgraded shares of Nordic American Tankers from a “c-” rating to a “d+” rating in a research report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. Nordic American Tankers has an average rating of “Hold” and an average target price of $5.67.

The company has a debt-to-equity ratio of 0.52, a current ratio of 4.69 and a quick ratio of 3.87. The firm has a market capitalization of $396.58, a price-to-earnings ratio of 97.25 and a beta of 0.88.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Monday, November 13th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, November 10th.

A number of institutional investors and hedge funds have recently bought and sold shares of NAT. Principal Financial Group Inc. boosted its holdings in Nordic American Tankers by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after acquiring an additional 4,454 shares during the last quarter. Aperio Group LLC raised its stake in shares of Nordic American Tankers by 55.2% during the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after purchasing an additional 7,994 shares during the period. Sigma Planning Corp raised its stake in shares of Nordic American Tankers by 44.2% during the 2nd quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock worth $151,000 after purchasing an additional 7,318 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nordic American Tankers during the 3rd quarter worth $158,000. Finally, Airain ltd raised its stake in shares of Nordic American Tankers by 79.8% during the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock worth $175,000 after purchasing an additional 12,256 shares during the period. 23.68% of the stock is currently owned by hedge funds and other institutional investors.

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Nordic American Tankers Company Profile

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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