Nordic American Tankers (NYSE:NAT) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Nordic American Tankers shares surpassed their 200-day moving average, trading at $3.31, higher than the $2.79 average, indicating potential bullish momentum.
• The company reported a loss of ($0.02) EPS for the last quarter, missing estimates, with a revenue of $40.15 million against expected $53.35 million.
• NAT boosted its quarterly dividend to $0.10, yielding 12.1% annually, despite a high dividend payout ratio of 571.43%.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.79 and traded as high as $3.35. Nordic American Tankers shares last traded at $3.31, with a volume of 2,598,619 shares trading hands.

Analyst Upgrades and Downgrades

NAT has been the subject of several research analyst reports. Jefferies Financial Group reissued a "hold" rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, August 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nordic American Tankers in a research report on Wednesday. Finally, Wall Street Zen downgraded Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $3.00.

Nordic American Tankers Stock Performance

The firm's 50 day simple moving average is $3.10 and its 200-day simple moving average is $2.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.04 and a current ratio of 2.33. The company has a market capitalization of $700.89 million, a price-to-earnings ratio of 47.29 and a beta of -0.31.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. The firm had revenue of $40.15 million for the quarter, compared to analyst estimates of $53.35 million. Analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.1%. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, September 12th. Nordic American Tankers's dividend payout ratio (DPR) is currently 571.43%.

Institutional Investors Weigh In On Nordic American Tankers

Large investors have recently bought and sold shares of the business. Savant Capital LLC bought a new stake in Nordic American Tankers in the second quarter worth $28,000. Sequoia Financial Advisors LLC lifted its stake in shares of Nordic American Tankers by 33.7% in the second quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company's stock valued at $42,000 after buying an additional 3,998 shares during the period. Red Door Wealth Management LLC bought a new stake in shares of Nordic American Tankers in the first quarter valued at about $39,000. BNP Paribas Financial Markets raised its position in Nordic American Tankers by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 19,890 shares of the shipping company's stock worth $52,000 after purchasing an additional 8,114 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in Nordic American Tankers in the first quarter worth about $49,000. 44.29% of the stock is currently owned by 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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