Nordic American Tankers (NYSE:NAT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Nordic American Tankers Limited (NYSE:NAT)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.82 and traded as high as $5.54. Nordic American Tankers shares last traded at $5.4390, with a volume of 4,265,862 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NAT shares. Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective for the company. in a research report on Tuesday, April 21st. Wall Street Zen upgraded Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 7th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $4.00.

Nordic American Tankers Stock Up 0.8%

The company has a debt-to-equity ratio of 0.83, a current ratio of 3.00 and a quick ratio of 2.75. The business has a 50 day simple moving average of $5.57 and a 200 day simple moving average of $4.84. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 20.61 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The company had revenue of $77.51 million for the quarter, compared to analysts’ expectations of $81.86 million. As a group, equities analysts predict that Nordic American Tankers Limited will post 0.58 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 15.8%. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, June 10th. Nordic American Tankers’s payout ratio is currently 325.93%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. CenterBook Partners LP raised its stake in shares of Nordic American Tankers by 110.1% in the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock valued at $12,729,000 after acquiring an additional 1,939,211 shares in the last quarter. Millennium Management LLC raised its stake in shares of Nordic American Tankers by 108.3% in the third quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock valued at $7,628,000 after acquiring an additional 1,263,228 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Nordic American Tankers by 25.2% in the third quarter. American Century Companies Inc. now owns 5,260,627 shares of the shipping company’s stock valued at $16,518,000 after acquiring an additional 1,057,232 shares in the last quarter. UBS Group AG raised its stake in shares of Nordic American Tankers by 83.9% in the third quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock valued at $7,152,000 after acquiring an additional 1,039,353 shares in the last quarter. Finally, Simcoe Capital LLC acquired a new stake in shares of Nordic American Tankers in the fourth quarter valued at $3,522,000. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.