Nordic American Tankers (NYSE:NAT) Share Price Passes Above 200 Day Moving Average – What’s Next?

Nordic American Tankers Limited (NYSE:NAT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.68 and traded as high as $5.30. Nordic American Tankers shares last traded at $5.2240, with a volume of 3,391,404 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price objective for the company. in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Trading Down 2.0%

The firm has a fifty day simple moving average of $5.68 and a two-hundred day simple moving average of $4.68. The firm has a market capitalization of $1.11 billion, a P/E ratio of 74.64 and a beta of -0.54. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.94.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, February 27th. The shipping company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%. The firm had revenue of $58.76 million for the quarter, compared to the consensus estimate of $69.43 million. On average, equities research analysts anticipate that Nordic American Tankers Limited will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordic American Tankers

Hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nordic American Tankers in the third quarter valued at $32,000. BlueStem Wealth Partners LLC purchased a new position in shares of Nordic American Tankers in the third quarter valued at $32,000. Torren Management LLC purchased a new position in shares of Nordic American Tankers in the fourth quarter valued at $34,000. Caprock Group LLC purchased a new position in shares of Nordic American Tankers in the third quarter valued at $36,000. Finally, ROI Financial Advisors LLC purchased a new position in shares of Nordic American Tankers in the fourth quarter valued at $36,000. 44.29% of the stock is currently owned by hedge funds and other 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.