Why Nordic American Tankers Stock Jumped 26% Today

Shares of oil tanker owner Nordic American Tankers (NYSE: NAT) jumped by as much as 27.6% in trading on Monday after it was announced that an insider was buying shares. The stock closed the session up 26% at $2.42.

The big news was that on Monday, board of directors member Alexander Hansson -- son of founder and CEO Herbjorn Hansson -- bought 250,000 shares of Nordic American stock for $2.05 per share. He now owns 1.44 million shares. The Hansson family, as a group, continues to constitute the largest private stakeholder in the company.

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Source Fool.com