Nordic American Tankers Stock Price, News & Analysis

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.

On September 20, 2021, Alexander Hansson purchased 50,000 shares of NAT at USD 2.3148, following a previous purchase of 100,000 shares at USD 2.30 on August 31, 2021. Alexander serves as a Director and is part of the Hansson family, which is a significant shareholder in NAT. These transactions reflect ongoing confidence from the management in the company's performance. The press release includes a cautionary note on forward-looking statements, highlighting potential risks affecting NAT, such as market conditions and operational expenses.

Herbjorn Hansson, Chairman and CEO of Nordic American Tankers, has purchased 75,000 shares at USD 2.3273 per share, reaffirming the Hansson family's position as one of the largest shareholders. This acquisition demonstrates insider confidence in the company's prospects. The press release highlights the importance of transparency and the company’s adherence to the Private Securities Litigation Reform Act. It also emphasizes the potential risks and uncertainties that could affect future performance, including fluctuations in the tanker market and regulatory changes.

Nordic American Tankers recently hosted Indian Shipping Minister Mr. Sarbananda Sonowal on the vessel NORDIC MOON in Mumbai on September 3, 2021. This visit signifies the company's ongoing operations in India, where it frequently discharges cargo from the Arabian Gulf. The meeting highlights NAT's strong international presence and commitment to quality maritime services. The company aims to leverage such diplomatic engagements to bolster its market position. For more insights, a video of the visit is accessible online.

Doug Penick, a board member of NAT, purchased 50,000 shares at USD 2.30 each, increasing his total holdings to 125,000 shares. Additionally, Alexander Hansson acquired 100,000 shares earlier today. Jim Kelly, another board member, holds 175,000 shares. This significant investment by board members reflects confidence in NAT's future. Penick joined the board on July 19, 2021, after a notable career at Goldman Sachs. The PR also includes a cautionary statement regarding forward-looking statements, highlighting that future performance is subject to various uncertainties.

On August 31, 2021, Alexander Hansson, a Director at Nordic American Tankers (NAT), purchased 100,000 shares at USD 2.30. This transaction highlights the insider's confidence in the company, as Alexander is also the son of CEO Herbjorn Hansson. The press release emphasizes forward-looking statements regarding the company's strategy and performance, while cautioning investors about inherent uncertainties. NAT operates in the tanker market, which is subject to fluctuations influenced by global economic conditions and OPEC production levels.

Nordic American Tankers (NAT) reported its 2Q 2021 results, revealing a net loss of $28.7 million, equating to an EPS of -$0.18, a decline from a profit of $49.2 million in 2Q 2020. The average time charter equivalent (TCE) for the fleet decreased to $7,800 per day, down from $48,400 a year prior. Despite the challenges, NAT plans to sell some vessels while purchasing newer ships to position for future growth. The dividend remains a priority, and a payment of $0.01 per share is scheduled for October 14, 2021. The company emphasizes the significance of its strong industry relationships and asset values amidst rising oil demand.