Nordic American Tankers (NYSE:NAT) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Nordic American Tankers (NYSE:NAT) shares moved above their 200-day moving average, trading as high as $6.34 before last changing hands around $6.22. The stock was also up about 0.9% in the session.
• Analyst sentiment remains cautious: Evercore downgraded NAT to underperform with a $4.50 target, and MarketBeat’s consensus rating is Reduce with a $4.00 price target.
• The company recently raised its quarterly dividend to $0.22 per share from $0.17, implying a high annualized yield of 14.2%, though the payout ratio is elevated at 325.93%.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.21 and traded as high as $6.34. Nordic American Tankers shares last traded at $6.2160, with a volume of 2,712,843 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NAT shares. Evercore lowered Nordic American Tankers from an "in-line" rating to an "underperform" rating and set a $4.50 price objective for the company. in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Nordic American Tankers from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 27th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $4.00.

Nordic American Tankers Trading Up 0.9%

The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $1.32 billion, a P/E ratio of 23.02 and a beta of -0.57. The business has a fifty day moving average price of $5.67 and a 200 day moving average price of $5.21.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The business had revenue of $77.51 million for the quarter, compared to analyst estimates of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. On average, analysts expect that Nordic American Tankers Limited will post 0.58 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 10th. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.17. This represents a $0.88 annualized dividend and a yield of 14.2%. Nordic American Tankers's dividend payout ratio is currently 325.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Nordic American Tankers in the 2nd quarter valued at approximately $32,000. Torren Management LLC bought a new stake in shares of Nordic American Tankers during the 4th quarter worth about $34,000. ROI Financial Advisors LLC acquired a new position in Nordic American Tankers in the 4th quarter valued at about $36,000. Parkside Financial Bank & Trust raised its holdings in Nordic American Tankers by 2,800.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company's stock valued at $37,000 after acquiring an additional 10,500 shares during the period. Finally, Stokes Family Office LLC bought a new position in Nordic American Tankers in the 4th quarter valued at about $37,000. 44.29% of the stock is currently owned by 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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