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Why Nordic American Tankers Stock Jumped 12.4% Today

TheMotleyFool

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Why Nordic American Tankers Stock Jumped 12.4% Today: https://g.foolcdn.com/editorial/images/733513/large-oil-tanker-on-open-water.jpg

Shares of oil tanker company Nordic American Tankers (NYSE: NAT) jumped as much as 12.4% in trading on Monday after reporting first-quarter 2023 financial results. Shares closed the day up 8.4%.

Voyage revenue jumped to $87.1 million from $15.5 million a year ago, and the company swung from a $20.9 million loss to a $54.7 million profit from operations. Net income was $46.9 million, or $0.22 per share, and management said they would pay a $0.15 per share dividend.

Image source: Getty Images.

Source Fool.com

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