Nordic American Tankers Stock Price, News & Analysis

Nordic American Tankers announced that Alexander Hansson, a board member and son of the CEO, purchased 50,000 shares at $1.8564 each, raising his total ownership to 1,035,000 shares. The Hansson family remains the largest private shareholder in NAT. Alexander expressed confidence in acquiring shares during market volatility, suggesting that uncertain times are favorable for tankers. This strategic investment highlights the Hansson family's commitment and may reinforce investor confidence.

Nordic American Tankers Ltd (NAT) board member Alexander Hansson has purchased 50,000 shares at $1.8564 each, increasing his ownership to 1,035,000 shares. The Hansson family remains the largest private shareholder in the company. In light of current market uncertainties, Alexander remarked that these times present a good opportunity for share accumulation. This transaction highlights insider confidence in NAT’s potential amidst market fluctuations, reinforcing the company's stability and long-term outlook.

Nordic American Tankers (NAT) recently published its 3Q 2021 report, revealing a net loss of $44.7 million, or EPS of -$0.27. Despite a decline in average time charter equivalent (TCE) earnings to $5,800/day from $7,800 in 2Q 2021, the company has secured long-term contracts for four vessels at rates over $20,000/day. The company aims to reduce its $259.6 million net debt and announced a dividend of $0.01 per share, marking its 97th consecutive payment. Global oil demand is nearing pre-pandemic levels, potentially benefiting NAT's operations.

Nordic American Tankers Ltd (NAT) has rescheduled its reporting date from November 30, 2021, to November 24, 2021. This decision was made during a regular board meeting on November 23, 2021, and the announcement is aimed at keeping shareholders and investors informed. The report will be released prior to the opening of the NYSE. The company emphasizes that this press release may include forward-looking statements subject to various uncertainties and risk factors that could impact actual outcomes.

Nordic American Tankers (NAT) announces improved market conditions for its Suezmax vessels as of November 1, 2021. The company has secured contracts, including a lucrative year-long deal starting at $20,000 per day, with additional options for two more years at higher rates. NAT is projected to receive $4 million to $6 million in cash from the War Risk Association's capital return. Furthermore, the company is installing Ballast Water Treatment Systems to comply with international regulations. The Q3 2021 results are set to release on November 30, 2021.

Nordic American Tankers Ltd. announced the sale of a suezmax vessel, built in 2000, as part of its fleet expansion strategy. The transaction is confirmed with delivery scheduled for October/November 2021. This vessel sale aligns with NAT's policy of underpromising and overdelivering, indicating a strategic move to enhance their operational capabilities. Shareholders are encouraged to refer to the previous press release dated July 28 for further details on the fleet expansion.

On September 30, 2021, board member Dough Penick of Nordic American Tankers (NAT) purchased 50,000 shares at $2.565 each, raising his total holdings to 175,000 shares. This action reflects confidence in the company's future, as all NAT board members have increased their shareholdings throughout September. The company emphasizes that this trend indicates a strong belief in NAT's prospects and stability.

Nordic American Tankers Ltd has confirmed the sale of one of its ships as part of an ongoing effort to restructure its fleet, which includes plans for further transactions involving suezmax tankers. The market for their 25 suezmax vessels is currently stable, with analysts predicting a positive upswing in demand. The company emphasizes the importance of various market factors, including oil production levels and operating expenses, which could impact future performance. Important forward-looking statements are included to highlight potential uncertainties in achieving projected outcomes.

On September 24, 2021, Nordic American Tankers Ltd (NAT) announced significant share purchases by its Board Members, indicating confidence in the company's performance. CEO Herbjorn Hansson acquired 75,000 shares on September 17, while Board Member Alexander Hansson bought 150,000 shares between August 31 and September 20. Jim Kelly increased his holdings to 175,000 shares, and Doug Penick, a recently appointed Board Member, accumulated 125,000 shares. These transactions highlight the board's commitment to the company's future and suggest optimism in NAT's market position.