Nordic American Tankers (NYSE:NAT) Shares Pass Above 200-Day Moving Average – What’s Next?

Nordic American Tankers Limited (NYSE:NAT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.60 and traded as high as $2.88. Nordic American Tankers shares last traded at $2.77, with a volume of 3,412,888 shares traded.

Analyst Ratings Changes

NAT has been the subject of a number of research reports. Jefferies Financial Group reiterated a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, May 29th. Wall Street Zen downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Friday, May 30th.

Nordic American Tankers Price Performance

The stock has a market capitalization of $585.49 million, a price-to-earnings ratio of 9.53 and a beta of -0.20. The company has a fifty day simple moving average of $2.61 and a 200 day simple moving average of $2.60. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a $0.07 dividend. The ex-dividend date is Thursday, June 12th. This is an increase 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 dividend payout ratio is 127.27%.

Hedge Funds Weigh In On Nordic American Tankers

Several institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in Nordic American Tankers by 19.4% during the first quarter. Russell Investments Group Ltd. now owns 23,886 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 3,875 shares during the period. SBI Securities Co. Ltd. grew its holdings in Nordic American Tankers by 11.9% during the first quarter. SBI Securities Co. Ltd. now owns 41,487 shares of the shipping company’s stock valued at $102,000 after purchasing an additional 4,409 shares during the period. WealthTrust Axiom LLC grew its holdings in Nordic American Tankers by 0.7% during the fourth quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company’s stock valued at $1,632,000 after purchasing an additional 4,665 shares during the period. Rhumbline Advisers grew its holdings in Nordic American Tankers by 1.1% during the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after purchasing an additional 5,439 shares during the period. Finally, Xponance Inc. grew its holdings in Nordic American Tankers by 41.4% during the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 5,439 shares during the period. 44.29% of the stock is owned by 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.