Nordic American Tankers (NYSE:NAT) Stock Passes Above 200-Day Moving Average – Time to Sell?

Nordic American Tankers Limited (NYSE:NAT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.97 and traded as high as $3.66. Nordic American Tankers shares last traded at $3.6340, with a volume of 1,873,270 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on NAT. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, August 28th. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Nordic American Tankers in a report on Wednesday, October 8th. Finally, Evercore ISI raised their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nordic American Tankers presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Nordic American Tankers Price Performance

The firm has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $2.97. The firm has a market capitalization of $769.50 million, a PE ratio of 51.91 and a beta of -0.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.33 and a quick ratio of 2.04.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Thursday, August 28th. The shipping company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). The business had revenue of $40.15 million during the quarter, compared to the consensus estimate of $53.35 million. Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%. As a group, equities analysts forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, September 12th. This represents a $0.40 annualized dividend and a dividend yield of 11.0%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.07. Nordic American Tankers’s dividend payout ratio is 571.43%.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors have recently bought and sold shares of NAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nordic American Tankers by 61.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company’s stock valued at $10,644,000 after purchasing an additional 1,648,496 shares in the last quarter. CenterBook Partners LP raised its stake in shares of Nordic American Tankers by 88.0% in the first quarter. CenterBook Partners LP now owns 3,135,619 shares of the shipping company’s stock worth $7,714,000 after buying an additional 1,467,916 shares during the period. Nuveen LLC purchased a new position in shares of Nordic American Tankers during the 1st quarter valued at about $3,150,000. American Century Companies Inc. lifted its position in shares of Nordic American Tankers by 15.2% during the 2nd quarter. American Century Companies Inc. now owns 4,203,395 shares of the shipping company’s stock valued at $11,055,000 after buying an additional 554,368 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Nordic American Tankers during the 2nd quarter valued at approximately $1,264,000. 44.29% of the stock is owned by institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.