Nordic American Tankers (NYSE:NAT) Trading 4.6% Higher - Still a Buy?

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s share price was up 4.6% during trading on Friday . The company traded as high as $2.84 and last traded at $2.85. Approximately 4,188,738 shares traded hands during trading, an increase of 64% from the average daily volume of 2,557,191 shares. The stock had previously closed at $2.72.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NAT shares. Jefferies Financial Group reissued a "hold" rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Thursday, May 29th. Wall Street Zen downgraded Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Friday, May 30th.

Nordic American Tankers Stock Performance

The company has a market capitalization of $585.49 million, a PE ratio of 9.53 and a beta of -0.20. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $2.61 and a two-hundred day moving average price of $2.60.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given 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 annualized dividend and a dividend yield of 10.13%. Nordic American Tankers's payout ratio is 127.27%.

Hedge Funds Weigh In On Nordic American Tankers

Hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Nordic American Tankers in the fourth quarter valued at $26,000. Summit Financial LLC bought a new stake in Nordic American Tankers during the fourth quarter valued at $32,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers during the fourth quarter valued at $33,000. Red Door Wealth Management LLC bought a new stake in Nordic American Tankers during the first quarter valued at $39,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Nordic American Tankers during the fourth quarter valued at $43,000. 44.29% of the stock is currently owned by hedge funds and other 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.