Nordic American Tankers (NYSE:NAT) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Nordic American Tankers shares moved above their 200-day moving average of $5.54, reaching as high as $6.29 and last trading at $6.1850 on volume of about 2.7 million shares.
• Analyst sentiment remains cautious: Evercore downgraded the stock to “underperform,” while the consensus rating is “Reduce” with a target price of $4.00.
• The company reported quarterly EPS of $0.17, slightly above estimates, and raised its quarterly dividend to $0.22, equivalent to an annualized $0.88 payout and a stated 14.2% yield.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s share price 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 trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NAT shares. Evercore downgraded shares of Nordic American Tankers from an "in-line" rating to an "underperform" rating and set a $4.50 price objective on the stock. in a report 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Nordic American Tankers currently has an average rating of "Reduce" and a consensus target price of $4.00.

Nordic American Tankers Stock Performance

The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00. The firm's 50 day simple moving average is $5.99 and its 200-day simple moving average is $5.54. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 22.91 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $77.51 million for the quarter, compared to the consensus estimate of $81.86 million. On average, sell-side analysts predict that Nordic American Tankers Limited will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 14.2%. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. Nordic American Tankers's dividend payout ratio (DPR) is currently 325.93%.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAT. FNY Investment Advisers LLC purchased a new position in shares of Nordic American Tankers during the 2nd quarter worth $32,000. Torren Management LLC acquired a new stake in Nordic American Tankers during the fourth quarter worth about $34,000. Diversify Wealth Management LLC purchased a new position in Nordic American Tankers during the first quarter worth about $56,000. Diversify Advisory Services LLC acquired a new position in Nordic American Tankers in the 2nd quarter valued at about $66,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Nordic American Tankers in the 1st quarter valued at approximately $61,000. Institutional investors and hedge funds 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.

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