Nordic American Tankers (NYSE:NAT) Shares Pass Above 200-Day Moving Average – Should You Sell?

Nordic American Tankers Limited (NYSE:NAT)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.48 and traded as high as $6.02. Nordic American Tankers shares last traded at $5.9350, with a volume of 2,246,999 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Evercore cut Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target for the company. in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Nordic American Tankers has an average rating of “Reduce” and a consensus price target of $4.00.

Nordic American Tankers Stock Up 1.3%

The company has a fifty day simple moving average of $5.66 and a 200-day simple moving average of $4.48. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.26 billion, a P/E ratio of 84.80 and a beta of -0.54.

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

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.13. Nordic American Tankers’s dividend payout ratio is presently 971.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CenterBook Partners LP lifted its stake in shares of Nordic American Tankers by 110.1% in the 4th quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock valued at $12,729,000 after purchasing an additional 1,939,211 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Nordic American Tankers by 108.3% in the 3rd 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 last quarter. American Century Companies Inc. lifted its stake in shares of Nordic American Tankers by 25.2% in the 3rd 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 last quarter. UBS Group AG lifted its stake in shares of Nordic American Tankers by 83.9% in the 3rd quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock valued at $7,152,000 after purchasing an additional 1,039,353 shares during the last quarter. Finally, Simcoe Capital LLC bought a new stake in shares of Nordic American Tankers in the 4th quarter valued at approximately $3,522,000. 44.29% of the stock is currently owned by 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.