Shares of Nordic American Tankers Limited (NYSE:NAT - Get Free Report) rose 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 changed 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 Ratings Changes
NAT has been the topic of a number of recent research reports. Jefferies Financial Group restated a "hold" rating and set a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, May 29th. Wall Street Zen lowered shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Friday, May 30th.
View Our Latest Report on NAT
Nordic American Tankers Stock Performance
The company's 50-day moving average price is $2.60 and its 200 day moving average price is $2.61. 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 stock has a market capitalization of $602.43 million, a PE ratio of 9.81 and a beta of -0.20.
Nordic American Tankers Increases Dividend
The business also recently announced 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. This represents a $0.28 annualized dividend and a dividend yield of 9.84%. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, June 12th. Nordic American Tankers's dividend payout ratio (DPR) is currently 127.27%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new position in Nordic American Tankers during the 4th quarter valued at about $26,000. Summit Financial LLC bought a new stake in Nordic American Tankers in the 4th quarter worth approximately $32,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers in the 4th quarter worth approximately $33,000. Red Door Wealth Management LLC bought a new stake in Nordic American Tankers in the 1st quarter worth approximately $39,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Nordic American Tankers during the 4th quarter worth $43,000. 44.29% of the stock is owned by hedge funds and other institutional investors.
About Nordic American Tankers
(
Get Free Report)
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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