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

Nordic American Tankers Limited (NYSE:NAT)’s share price 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NAT shares. Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price on the stock. in a research note on Tuesday, April 21st. Wall Street Zen downgraded Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nordic American Tankers has an average rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Trading Up 0.9%

The firm’s fifty day simple moving average is $5.67 and its 200 day simple moving average is $5.21. The stock has a market capitalization of $1.32 billion, a P/E ratio of 23.02 and a beta of -0.57. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The firm had revenue of $77.51 million during the quarter, compared to analysts’ expectations of $81.86 million. As a group, equities research analysts forecast that Nordic American Tankers Limited will post 0.58 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 10th. This represents a $0.88 dividend on an annualized basis and a yield of 14.2%. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.17. Nordic American Tankers’s dividend payout ratio is currently 325.93%.

Institutional Investors Weigh In On Nordic American Tankers

Several hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in Nordic American Tankers during the 2nd quarter worth $32,000. Torren Management LLC bought a new position in Nordic American Tankers in the fourth quarter valued at about $34,000. Diversify Wealth Management LLC bought a new position in Nordic American Tankers in the first quarter valued at about $56,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Nordic American Tankers during the first quarter valued at about $61,000. Finally, ROI Financial Advisors LLC acquired a new stake in shares of Nordic American Tankers during the fourth quarter valued at about $36,000. Institutional investors and hedge funds 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.