Nordic American Tankers (NYSE:NAT) Stock Passes Above 200 Day Moving Average – Should You Sell?

Nordic American Tankers Limited (NYSE:NAT) 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.

Wall Street Analyst Weigh In

NAT has been the subject of several recent analyst reports. Wall Street Zen raised Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Evercore downgraded shares of Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Stock Performance

The company has a market capitalization of $1.28 billion, a PE ratio of 22.40 and a beta of -0.57. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The business’s fifty day moving average is $5.67 and its two-hundred day moving average is $5.21.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $77.51 million for the quarter, compared to the consensus estimate of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. Equities research analysts predict that Nordic American Tankers Limited will post 0.58 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.17. This represents a $0.88 dividend on an annualized basis and a dividend yield of 14.6%. Nordic American Tankers’s dividend payout ratio is currently 325.93%.

Institutional Investors Weigh In On Nordic American Tankers

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Nordic American Tankers by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock valued at $71,430,000 after acquiring an additional 460,555 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Nordic American Tankers by 7.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,124,150 shares of the shipping company’s stock worth $16,090,000 after acquiring an additional 369,462 shares during the period. CenterBook Partners LP raised its holdings in shares of Nordic American Tankers by 110.1% during the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock valued at $12,729,000 after purchasing an additional 1,939,211 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Nordic American Tankers by 108.3% during the third quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock valued at $7,628,000 after purchasing an additional 1,263,228 shares during the last quarter. Finally, UBS Group AG lifted its position in Nordic American Tankers by 83.9% during the third quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock valued at $7,152,000 after purchasing an additional 1,039,353 shares during the period. 44.29% of the stock is currently owned by institutional investors.

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.