Nordic American Tankers (NYSE:NAT) Shares Pass Above 200 Day Moving Average - Here's What Happened

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.48 and traded as high as $6.02. Nordic American Tankers shares last traded at $5.9350, with a volume of 2,246,999 shares.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen raised Nordic American Tankers from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. Evercore cut Nordic American Tankers from an "in-line" rating to an "underperform" rating and set a $4.50 price objective on the stock. in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $4.00.

Nordic American Tankers Trading Up 1.3%

The firm has a market capitalization of $1.26 billion, a PE ratio of 84.80 and a beta of -0.54. The stock's 50-day moving average price is $5.66 and its 200 day moving average price is $4.48. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.94.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $58.76 million for the quarter, compared to analysts' expectations of $69.43 million. Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%. On average, sell-side analysts expect that Nordic American Tankers Limited will post 0.43 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a yield of 11.5%. Nordic American Tankers's dividend payout ratio is 971.43%.

Hedge Funds Weigh In On Nordic American Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nordic American Tankers during the third quarter worth $32,000. BlueStem Wealth Partners LLC acquired a new stake in shares of Nordic American Tankers during the third quarter worth $32,000. Torren Management LLC acquired a new stake in shares of Nordic American Tankers during the fourth quarter worth $34,000. Caprock Group LLC acquired a new stake in shares of Nordic American Tankers during the third quarter worth $36,000. Finally, ROI Financial Advisors LLC acquired a new stake in shares of Nordic American Tankers during the fourth quarter worth $36,000. 44.29% of the stock is owned by hedge funds and other institutional investors.

About Nordic American Tankers

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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