Nordic American Tankers (NYSE:NAT) Share Price Passes Above 200-Day Moving Average – Time to Sell?

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 $3.93 and traded as high as $5.50. Nordic American Tankers shares last traded at $5.4550, with a volume of 4,239,604 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NAT. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 28th. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Trading Up 3.9%

The firm has a market capitalization of $1.16 billion, a PE ratio of 77.94 and a beta of -0.50. The firm has a 50 day simple moving average of $4.74 and a 200 day simple moving average of $3.93. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.87.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Thursday, February 26th. The shipping company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $58.76 million during the quarter, compared to analysts’ expectations of $69.43 million. Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%. Equities analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a $0.17 dividend. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.68 dividend on an annualized basis and a yield of 12.5%. Nordic American Tankers’s payout ratio is presently 971.43%.

Institutional Trading of Nordic American Tankers

A number of institutional investors have recently made changes to their positions in the stock. CenterBook Partners LP grew its stake in shares of Nordic American Tankers by 110.1% in the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock worth $12,729,000 after acquiring an additional 1,939,211 shares during the period. Millennium Management LLC lifted its position in 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 period. American Century Companies Inc. lifted its position in Nordic American Tankers by 25.2% during the third quarter. American Century Companies Inc. now owns 5,260,627 shares of the shipping company’s stock valued at $16,518,000 after purchasing an additional 1,057,232 shares during the period. UBS Group AG boosted its holdings in Nordic American Tankers by 83.9% in the third quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock worth $7,152,000 after purchasing an additional 1,039,353 shares during the last quarter. Finally, Simcoe Capital LLC purchased a new stake in Nordic American Tankers in the fourth quarter worth approximately $3,522,000. Hedge funds and other institutional investors 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.