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

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

Wall Street Analysts Forecast Growth

NAT has been the topic of a number of research analyst reports. Wall Street Zen cut Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Friday, May 30th. 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, May 29th.

Nordic American Tankers Stock Performance

The firm's 50 day simple moving average is $2.61 and its 200-day simple moving average is $2.60. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The company has a market capitalization of $585.49 million, a price-to-earnings ratio of 9.53 and a beta of -0.20.

Nordic American Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a $0.07 dividend. The ex-dividend date is Thursday, June 12th. This is a boost 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 10.13%. Nordic American Tankers's dividend payout ratio is currently 127.27%.

Institutional Investors Weigh In On Nordic American Tankers

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