Nordic American Tankers (NYSE:NAT) Stock Price Passes 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 $4.82 and traded as high as $5.54. Nordic American Tankers shares last traded at $5.4390, with a volume of 4,265,862 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NAT. Wall Street Zen raised Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 7th. Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 target price for the company. in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $4.00.

Nordic American Tankers Price Performance

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 20.14 and a beta of -0.57. The company has a 50-day moving average price of $5.59 and a 200-day moving average price of $4.82. 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 posted its earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $77.51 million during the quarter, compared to analyst estimates of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. On average, equities research analysts expect that Nordic American Tankers Limited will post 0.58 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 16.2%. The ex-dividend date of this dividend is Wednesday, June 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.17. Nordic American Tankers’s dividend payout ratio (DPR) is currently 325.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NAT. AQR Capital Management LLC lifted its stake in Nordic American Tankers by 269.8% in the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock valued at $319,000 after buying an additional 94,514 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Nordic American Tankers by 298.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock valued at $168,000 after buying an additional 51,187 shares in the last quarter. Empowered Funds LLC lifted its stake in Nordic American Tankers by 8.9% in the first quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock valued at $546,000 after buying an additional 18,222 shares in the last quarter. Jane Street Group LLC lifted its stake in Nordic American Tankers by 22.6% in the first quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock valued at $1,054,000 after buying an additional 78,948 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Nordic American Tankers by 74.7% in the second quarter. Envestnet Asset Management Inc. now owns 38,719 shares of the shipping company’s stock valued at $102,000 after buying an additional 16,560 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

About Nordic American Tankers

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.