Nordic American Tankers (NYSE:NAT) Stock Price Up 5.1% – Should You Buy?

Nordic American Tankers Limited (NYSE:NAT)’s share price was up 5.1% during trading on Tuesday . The company traded as high as $2.72 and last traded at $2.67. Approximately 1,221,032 shares traded hands during trading, a decline of 45% from the average daily volume of 2,200,452 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

Several analysts have issued reports on NAT shares. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Jefferies Financial Group restated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 29th.

Nordic American Tankers Stock Performance

The company’s fifty day simple moving average is $2.79 and its two-hundred day simple moving average is $3.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The stock has a market capitalization of $570.01 million, a P/E ratio of 9.41 and a beta of -0.29.

Nordic American Tankers Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 annualized dividend and a yield of 17.58%. Nordic American Tankers’s payout ratio is currently 55.17%.

Institutional Investors Weigh In On Nordic American Tankers

A number of institutional investors have recently modified their holdings of NAT. Headlands Technologies LLC bought a new position in Nordic American Tankers during the 2nd quarter worth $25,000. Raymond James Trust N.A. acquired a new stake in shares of Nordic American Tankers in the 3rd quarter valued at $37,000. Bluefin Capital Management LLC acquired a new position in Nordic American Tankers during the second quarter worth about $47,000. Caprock Group LLC bought a new stake in shares of Nordic American Tankers during the 2nd quarter valued at approximately $55,000. Finally, Ballentine Partners LLC acquired a new position in Nordic American Tankers during the 2nd quarter worth approximately $63,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.