Nordic American Tankers Target of Unusually High Options Trading (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NATGet Rating) saw some unusual options trading on Friday. Stock traders purchased 7,548 call options on the company. This represents an increase of 109% compared to the typical daily volume of 3,608 call options.

Nordic American Tankers Stock Performance

Shares of NAT stock opened at $3.63 on Friday. The stock’s 50-day moving average price is $3.13 and its 200-day moving average price is $2.64. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. Nordic American Tankers has a 12-month low of $1.40 and a 12-month high of $3.75. The stock has a market capitalization of $702.26 million, a price-to-earnings ratio of -6.60 and a beta of 0.12.

Nordic American Tankers (NYSE:NATGet Rating) last announced its quarterly earnings results on Tuesday, August 30th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $34.75 million during the quarter, compared to analyst estimates of $29.25 million. Nordic American Tankers had a negative return on equity of 17.36% and a negative net margin of 117.57%. During the same quarter in the previous year, the business earned ($0.18) earnings per share. Equities research analysts predict that Nordic American Tankers will post -0.04 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Tuesday, December 6th will be given a dividend of $0.05 per share. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend is Monday, December 5th. Nordic American Tankers’s dividend payout ratio (DPR) is currently -21.82%.

Wall Street Analysts Forecast Growth

NAT has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Nordic American Tankers in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Jefferies Financial Group raised Nordic American Tankers from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.00 to $4.00 in a research report on Tuesday, September 6th. Finally, TheStreet lowered Nordic American Tankers from a “c-” rating to a “d+” rating in a research report on Friday, October 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nordic American Tankers has an average rating of “Hold” and an average target price of $3.38.

Institutional Investors Weigh In On Nordic American Tankers

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Nordic American Tankers by 266.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,555,429 shares of the shipping company’s stock valued at $9,703,000 after buying an additional 3,311,571 shares in the last quarter. Two Sigma Investments LP purchased a new position in Nordic American Tankers in the 3rd quarter valued at approximately $8,513,000. Nuveen Asset Management LLC boosted its position in Nordic American Tankers by 375.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 3,210,132 shares of the shipping company’s stock valued at $8,571,000 after buying an additional 2,535,052 shares during the period. Two Sigma Advisers LP purchased a new position in Nordic American Tankers in the 3rd quarter valued at approximately $4,993,000. Finally, Privium Fund Management UK Ltd purchased a new position in Nordic American Tankers in the 1st quarter valued at approximately $2,608,000. 33.46% of the stock is owned by hedge funds and other institutional investors.

About Nordic American Tankers

(Get Rating)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 24 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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