Nordic American Tankers (NYSE:NAT) Stock Price Up 5.1% – What’s Next?

Nordic American Tankers Limited (NYSE:NAT) shares rose 5.1% during trading on Tuesday . The stock traded as high as $2.72 and last traded at $2.67. Approximately 1,221,032 shares changed 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.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NAT. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. 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 29th.

Nordic American Tankers Stock Up 4.7 %

The firm has a market capitalization of $555.40 million, a price-to-earnings ratio of 9.17 and a beta of -0.29. 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 business’s 50 day moving average is $2.81 and its 200-day moving average is $3.38.

Nordic American Tankers Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be given a $0.04 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 annualized dividend and a yield of 18.05%. Nordic American Tankers’s dividend payout ratio is 55.17%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Two Sigma Advisers LP increased its stake in Nordic American Tankers by 67.6% during the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after acquiring an additional 1,521,900 shares during the period. Philip James Wealth Mangement LLC bought a new stake in shares of Nordic American Tankers during the third quarter valued at approximately $4,069,000. American Century Companies Inc. raised its stake in shares of Nordic American Tankers by 40.5% in the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after purchasing an additional 1,009,096 shares in the last quarter. Millennium Management LLC lifted its position in Nordic American Tankers by 122.8% in the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after purchasing an additional 711,973 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Nordic American Tankers by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after buying an additional 621,588 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

About Nordic American Tankers

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.