Nordic American Tankers (NYSE:NAT) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Nordic American Tankers shares crossed above its 200-day moving average, trading as high as $6.06 and last at $5.885 on volume of about 4.1 million, versus a 200-day MA of $4.23 (50-day MA $5.33).
• The company raised its quarterly dividend to $0.17 (annualized $0.68), producing an around 11.6% yield
• Analysts hold an average "Hold" rating with a $3.25 target—well below the current price—and the firm recently missed quarterly EPS ($0.06 vs. $0.09) and revenue estimates; market cap is $1.25B with a P/E of 84.08 and institutional ownership of 44.29%.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.23 and traded as high as $6.06. Nordic American Tankers shares last traded at $5.8850, with a volume of 4,104,325 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on NAT. Weiss Ratings reiterated a "hold (c+)" rating on shares of Nordic American Tankers in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Nordic American Tankers from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Nordic American Tankers has an average rating of "Hold" and an average target price of $3.25.

Nordic American Tankers Stock Performance

The firm's 50-day moving average price is $5.33 and its 200 day moving average price is $4.23. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.94 and a current ratio of 2.24. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 84.08 and a beta of -0.52.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%.The business had revenue of $58.76 million for the quarter, compared to analyst estimates of $69.43 million. On average, sell-side analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.13. Nordic American Tankers's payout ratio is 971.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NAT. Vanguard Personalized Indexing Management LLC bought a new position in Nordic American Tankers during the 3rd quarter worth approximately $32,000. BlueStem Wealth Partners LLC bought a new position in Nordic American Tankers during the 3rd quarter worth approximately $32,000. HBK Sorce Advisory LLC bought a new position in Nordic American Tankers during the 3rd quarter worth approximately $33,000. Torren Management LLC bought a new position in Nordic American Tankers during the 4th quarter worth approximately $34,000. Finally, Caprock Group LLC bought a new position in Nordic American Tankers during the 3rd quarter worth approximately $36,000. Institutional investors own 44.29% of the company's stock.

Nordic American Tankers Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.