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

Nordic American Tankers Limited (NYSE:NAT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.54 and traded as high as $6.29. Nordic American Tankers shares last traded at $6.1850, with a volume of 2,709,256 shares changing hands.

Wall Street Analysts Forecast Growth

NAT has been the subject of several recent analyst reports. Evercore cut Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $4.00.

Nordic American Tankers Price Performance

The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 24.44 and a beta of -0.57. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $6.02 and its 200 day moving average is $5.55.

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

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a $0.22 dividend. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.3%. Nordic American Tankers’s payout ratio is currently 325.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in Nordic American Tankers in the second quarter valued at approximately $32,000. Torren Management LLC purchased a new position in shares of Nordic American Tankers during the fourth quarter worth approximately $34,000. ROI Financial Advisors LLC purchased a new position in shares of Nordic American Tankers during the fourth quarter worth approximately $36,000. Parkside Financial Bank & Trust increased its holdings in shares of Nordic American Tankers by 2,800.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 10,500 shares during the period. Finally, Stokes Family Office LLC acquired a new position in shares of Nordic American Tankers in the 4th quarter valued at $37,000. Hedge funds and other 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.