Nordic American Tankers (NYSE:NAT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Nordic American Tankers Limited (NYSE:NAT) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.07 and traded as high as $5.94. Nordic American Tankers shares last traded at $5.8850, with a volume of 2,274,487 shares changing hands.

Wall Street Analyst Weigh In

NAT has been the subject of several analyst reports. Wall Street Zen downgraded Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Evercore cut Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target on the stock. in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nordic American Tankers currently has a consensus rating of “Reduce” and a consensus price target of $4.00.

Nordic American Tankers Trading Down 2.7%

The company’s fifty day moving average price is $5.62 and its two-hundred day moving average price is $5.09. The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 21.85 and a beta of -0.57.

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

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were paid a $0.22 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.17. This represents a $0.88 dividend on an annualized basis and a yield of 14.9%. The ex-dividend date of this dividend was Wednesday, June 10th. Nordic American Tankers’s payout ratio is presently 325.93%.

Institutional Trading of Nordic American Tankers

Large investors have recently made changes to their positions in the business. SmartHarvest Portfolios LLC raised its holdings in shares of Nordic American Tankers by 18.0% in the first quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company’s stock valued at $80,000 after buying an additional 2,087 shares during the last quarter. ProShare Advisors LLC grew its holdings in Nordic American Tankers by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company’s stock worth $129,000 after acquiring an additional 2,416 shares during the last quarter. Cerity Partners LLC increased its position in Nordic American Tankers by 4.7% in the 4th 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 increased its position in Nordic American Tankers by 9.5% in the 4th quarter. Signaturefd LLC now owns 35,883 shares of the shipping company’s stock valued at $123,000 after acquiring an additional 3,120 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Nordic American Tankers by 8.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,606 shares of the shipping company’s stock worth $153,000 after acquiring an additional 3,433 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

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.