Short Interest in Nordic American Tankers Limited (NYSE:NAT) Declines By 17.9%

Nordic American Tankers Limited (NYSE:NATGet Rating) was the recipient of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 11,560,000 shares, a drop of 17.9% from the May 15th total of 14,080,000 shares. Based on an average trading volume of 8,320,000 shares, the short-interest ratio is currently 1.4 days.

Several research firms recently issued reports on NAT. Jefferies Financial Group began coverage on shares of Nordic American Tankers in a research note on Wednesday, April 27th. They issued a “hold” rating and a $2.50 price objective for the company. Clarkson Capital reiterated a “buy” rating on shares of Nordic American Tankers in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $3.42.

Shares of NYSE NAT traded down $0.06 during mid-day trading on Friday, reaching $1.89. 4,468,426 shares of the company were exchanged, compared to its average volume of 6,345,598. The company has a quick ratio of 1.21, a current ratio of 1.52 and a debt-to-equity ratio of 0.53. Nordic American Tankers has a twelve month low of $1.40 and a twelve month high of $3.50. The stock has a market capitalization of $365.64 million, a P/E ratio of -2.75 and a beta of 0.07. The company’s 50-day simple moving average is $2.45 and its 200-day simple moving average is $2.04.

Nordic American Tankers (NYSE:NATGet Rating) last announced its quarterly earnings results on Monday, June 6th. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Nordic American Tankers had a negative net margin of 189.05% and a negative return on equity of 21.52%. During the same quarter last year, the firm earned ($0.16) earnings per share. As a group, equities research analysts expect that Nordic American Tankers will post -0.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Tuesday, June 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 4.23%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Monday, June 13th. Nordic American Tankers’s payout ratio is presently -11.27%.

Institutional investors have recently bought and sold shares of the stock. Schroder Investment Management Group boosted its holdings in shares of Nordic American Tankers by 20.8% in the 4th quarter. Schroder Investment Management Group now owns 951,636 shares of the shipping company’s stock worth $1,608,000 after purchasing an additional 163,864 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Nordic American Tankers in the 3rd quarter worth about $106,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Nordic American Tankers in the 4th quarter worth about $1,220,000. Magnolia Capital Advisors LLC boosted its holdings in shares of Nordic American Tankers by 32.6% in the 4th quarter. Magnolia Capital Advisors LLC now owns 142,436 shares of the shipping company’s stock worth $241,000 after purchasing an additional 35,005 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Nordic American Tankers by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,509,744 shares of the shipping company’s stock valued at $3,864,000 after acquiring an additional 64,076 shares during the last quarter. Institutional investors and hedge funds own 28.47% of the company’s stock.

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 25 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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