Nordic American Tankers (NYSE:NAT) Shares Cross Above 200 Day Moving Average – Time to Sell?

Nordic American Tankers Limited (NYSE:NAT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.20 and traded as high as $3.51. Nordic American Tankers shares last traded at $3.4850, with a volume of 2,238,028 shares.

Analysts Set New Price Targets

NAT has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday. Jefferies Financial Group restated a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a research report on Friday, November 28th. Evercore ISI raised their price target on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nordic American Tankers currently has a consensus rating of “Hold” and an average price target of $3.25.

Nordic American Tankers Stock Up 1.2%

The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.86. The stock has a 50-day simple moving average of $3.60 and a two-hundred day simple moving average of $3.21. The firm has a market cap of $732.66 million, a PE ratio of 173.09 and a beta of -0.45.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The firm had revenue of $40.18 million during the quarter, compared to analysts’ expectations of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. Analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 15.0%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, December 8th. Nordic American Tankers’s payout ratio is 2,600.00%.

Institutional Investors Weigh In On Nordic American Tankers

A number of institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its position in Nordic American Tankers by 21.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,260 shares of the shipping company’s stock worth $60,000 after purchasing an additional 3,395 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Nordic American Tankers by 8.3% during the second quarter. SBI Securities Co. Ltd. now owns 44,932 shares of the shipping company’s stock valued at $118,000 after buying an additional 3,445 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Nordic American Tankers by 15.9% in the third quarter. Franklin Resources Inc. now owns 27,236 shares of the shipping company’s stock worth $86,000 after buying an additional 3,735 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Nordic American Tankers by 19.4% in the 1st quarter. Russell Investments Group Ltd. now owns 23,886 shares of the shipping company’s stock valued at $59,000 after acquiring an additional 3,875 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in shares of Nordic American Tankers by 21.4% in the 2nd quarter. Prospera Financial Services Inc now owns 24,680 shares of the shipping company’s stock valued at $65,000 after acquiring an additional 4,343 shares during the last quarter. Hedge funds and other 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.