Nordic American Tankers Sees Unusually High Options Volume (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT) was the recipient of some unusual options trading on Wednesday. Traders acquired 4,510 call options on the company. This is an increase of 52% compared to the typical daily volume of 2,964 call options.

Nordic American Tankers Price Performance

Nordic American Tankers stock opened at $4.83 on Friday. Nordic American Tankers has a 52-week low of $2.13 and a 52-week high of $4.87. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average is $3.93 and its 200 day moving average is $3.55. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 241.37 and a beta of -0.43.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%.The business had revenue of $40.18 million during the quarter, compared to the consensus estimate of $52.89 million. Sell-side analysts forecast that Nordic American Tankers will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, December 8th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a yield of 10.8%. Nordic American Tankers’s payout ratio is presently 2,600.00%.

Analyst Ratings Changes

NAT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Evercore increased their price target on Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 28th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.25.

Hedge Funds Weigh In On Nordic American Tankers

Large investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in shares of Nordic American Tankers by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company’s stock valued at $129,000 after acquiring an additional 2,416 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Nordic American Tankers by 4.7% during the fourth quarter. Cerity Partners LLC now owns 54,470 shares of the shipping company’s stock valued at $187,000 after acquiring an additional 2,449 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Nordic American Tankers by 9.5% in the fourth quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock worth $123,000 after buying an additional 3,120 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Nordic American Tankers by 21.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,260 shares of the shipping company’s stock worth $60,000 after acquiring an additional 3,395 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Nordic American Tankers by 8.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 44,606 shares of the shipping company’s stock valued at $153,000 after acquiring an additional 3,433 shares during the period. 44.29% of the stock is owned by hedge funds and other institutional investors.

About Nordic American Tankers

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.