Nordic American Tankers (NYSE:NAT) Stock Price Up 5.1% – Here’s Why

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

Analyst Ratings Changes

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

Nordic American Tankers Stock Up 4.7 %

The firm has a market cap of $555.40 million, a PE ratio of 9.17 and a beta of -0.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The business has a fifty day moving average price of $2.81 and a two-hundred day moving average price of $3.38.

Nordic American Tankers Dividend Announcement

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

Institutional Trading of Nordic American Tankers

Institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its stake in shares of Nordic American Tankers by 50.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after buying an additional 5,347 shares during the period. Headlands Technologies LLC acquired a new stake in Nordic American Tankers during the second quarter valued at $25,000. Wealth Enhancement Advisory Services LLC grew its stake in Nordic American Tankers by 26.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock valued at $122,000 after purchasing an additional 6,940 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Nordic American Tankers by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock worth $1,796,000 after purchasing an additional 7,382 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Nordic American Tankers by 9.1% during the 2nd quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock worth $365,000 after purchasing an additional 7,663 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

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.