Nordic American Tankers (NYSE:NAT) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Nordic American Tankers shares have recently surpassed their 200-day moving average, trading at $2.80, which is an increase from the moving average of $2.63.
• The company has increased its quarterly dividend to $0.07 per share, resulting in a 10.0% yield, despite a high payout ratio of 164.71%.
• Recent analyst ratings show mixed sentiments, with Jefferies Financial Group restating a "hold" rating with a $3.00 target price, while Wall Street Zen has downgraded it to a "sell" rating.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.63 and traded as high as $2.87. Nordic American Tankers shares last traded at $2.80, with a volume of 2,027,490 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group restated a "hold" rating and issued a $3.00 target price on shares of Nordic American Tankers in a report on Thursday, May 29th. Wall Street Zen downgraded shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Saturday, July 26th.

Nordic American Tankers Trading Down 2.6%

The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. The firm's 50 day simple moving average is $2.75 and its 200-day simple moving average is $2.63. The company has a market capitalization of $591.84 million, a PE ratio of 16.44 and a beta of -0.22.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.07 per share. This is an increase from Nordic American Tankers's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 10.0%. The ex-dividend date was Thursday, June 12th. Nordic American Tankers's payout ratio is presently 164.71%.

Institutional Investors Weigh In On Nordic American Tankers

Several institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers grew its stake in Nordic American Tankers by 2.8% during the second quarter. Cetera Investment Advisers now owns 300,469 shares of the shipping company's stock worth $790,000 after buying an additional 8,323 shares during the period. Creative Planning boosted its stake in shares of Nordic American Tankers by 15.2% in the second quarter. Creative Planning now owns 128,625 shares of the shipping company's stock valued at $338,000 after purchasing an additional 16,998 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nordic American Tankers by 0.6% in the second quarter. Geode Capital Management LLC now owns 2,568,766 shares of the shipping company's stock valued at $6,756,000 after purchasing an additional 16,535 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Nordic American Tankers by 8.3% in the second quarter. SBI Securities Co. Ltd. now owns 44,932 shares of the shipping company's stock valued at $118,000 after purchasing an additional 3,445 shares during the period. Finally, Rathbones Group PLC boosted its stake in shares of Nordic American Tankers by 6.2% in the second quarter. Rathbones Group PLC now owns 205,950 shares of the shipping company's stock valued at $542,000 after purchasing an additional 12,000 shares during the period. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Company Profile

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.

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