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

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.60 and traded as high as $2.88. Nordic American Tankers shares last traded at $2.77, with a volume of 3,412,888 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, May 29th. Wall Street Zen downgraded shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Friday, May 30th.

Nordic American Tankers Stock Down 2.3%

The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $589.72 million, a PE ratio of 12.66 and a beta of -0.20. The company's fifty 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. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 12th. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 10.05%. Nordic American Tankers's payout ratio is currently 127.27%.

Institutional Investors Weigh In On Nordic American Tankers

A number of hedge funds have recently modified their holdings of NAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nordic American Tankers by 61.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company's stock worth $10,644,000 after purchasing an additional 1,648,496 shares during the period. Two Sigma Advisers LP boosted its holdings in Nordic American Tankers by 0.4% in the 4th quarter. Two Sigma Advisers LP now owns 3,787,400 shares of the shipping company's stock worth $9,468,000 after buying an additional 13,300 shares during the period. CenterBook Partners LP boosted its holdings in Nordic American Tankers by 88.0% in the 1st quarter. CenterBook Partners LP now owns 3,135,619 shares of the shipping company's stock worth $7,714,000 after buying an additional 1,467,916 shares during the period. Geode Capital Management LLC increased its stake in Nordic American Tankers by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,493,016 shares of the shipping company's stock worth $6,233,000 after buying an additional 22,615 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Nordic American Tankers by 3.3% during the fourth quarter. Northern Trust Corp now owns 1,376,932 shares of the shipping company's stock valued at $3,442,000 after acquiring an additional 44,380 shares during the period. Institutional investors own 44.29% of the company's stock.

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.