Nordic American Tankers (NYSE:NAT) Shares Gap Up - What's Next?

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.77, but opened at $2.84. Nordic American Tankers shares last traded at $2.88, with a volume of 183,852 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NAT. Wall Street Zen lowered Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Jefferies Financial Group restated a "hold" rating and set a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, May 29th.

Nordic American Tankers Stock Down 3.3%

The company has a market cap of $583.37 million, a P/E ratio of 12.52 and a beta of -0.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.65 and a quick ratio of 1.29. The business's 50 day moving average price is $2.64 and its 200-day moving average price is $2.61.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 10.16%. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, June 12th. Nordic American Tankers's dividend payout ratio is presently 127.27%.

Institutional Trading of Nordic American Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new position in Nordic American Tankers in the 4th quarter valued at $26,000. Summit Financial LLC bought a new position in Nordic American Tankers in the fourth quarter valued at about $32,000. Avantax Advisory Services Inc. acquired a new stake in Nordic American Tankers in the fourth quarter worth about $33,000. Red Door Wealth Management LLC bought a new stake in Nordic American Tankers during the 1st quarter worth about $39,000. Finally, AXQ Capital LP acquired a new position in Nordic American Tankers during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 44.29% of the company's stock.

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.