Nordic American Tankers (NYSE:NAT) Shares Up 5.1% - What's Next?

Shares of Nordic American Tankers Limited (NYSE:NAT - Get Free Report) shot up 5.1% during trading on Tuesday . The stock traded as high as $2.72 and last traded at $2.67. 1,221,032 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 2,200,452 shares. The stock had previously closed at $2.54.

Analyst Upgrades and Downgrades

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

Nordic American Tankers Price Performance

The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $570.01 million, a price-to-earnings ratio of 9.41 and a beta of -0.29. The stock has a fifty day moving average of $2.81 and a two-hundred day moving average of $3.38.

Nordic American Tankers Announces Dividend

The business 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 $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 17.58%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers's dividend payout ratio is currently 55.17%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its position 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 worth $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 2nd quarter worth $25,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Nordic American Tankers by 26.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company's stock valued at $122,000 after acquiring an additional 6,940 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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. grew its stake in shares of Nordic American Tankers by 9.1% during the second 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 during the period. 44.29% of the stock is currently owned by institutional investors.

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.