Nordic American Tankers Limited $NAT Shares Sold by Walleye Capital LLC

Walleye Capital LLC decreased its holdings in Nordic American Tankers Limited (NYSE:NAT) by 95.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,304 shares of the shipping company’s stock after selling 675,427 shares during the quarter. Walleye Capital LLC’s holdings in Nordic American Tankers were worth $75,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Red Door Wealth Management LLC bought a new position in shares of Nordic American Tankers in the first quarter worth $39,000. Watts Gwilliam & Co. LLC bought a new position in shares of Nordic American Tankers in the first quarter worth $49,000. Cerity Partners LLC grew its stake in shares of Nordic American Tankers by 34.0% in the first quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company’s stock worth $54,000 after purchasing an additional 5,605 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Nordic American Tankers by 312.3% in the first quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock worth $54,000 after purchasing an additional 16,644 shares in the last quarter. Finally, Pettinga Financial Advisors LLC grew its stake in shares of Nordic American Tankers by 42.0% in the first quarter. Pettinga Financial Advisors LLC now owns 23,650 shares of the shipping company’s stock worth $58,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 1.4%

Shares of NAT stock opened at $3.28 on Friday. The stock has a 50-day simple moving average of $2.85 and a 200 day simple moving average of $2.68. Nordic American Tankers Limited has a fifty-two week low of $2.13 and a fifty-two week high of $3.83. The stock has a market capitalization of $693.48 million, a P/E ratio of 46.79 and a beta of -0.22. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.53.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.64%. The firm had revenue of $40.15 million for the quarter, compared to the consensus estimate of $53.35 million. On average, sell-side analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be given a $0.10 dividend. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, September 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.2%. Nordic American Tankers’s dividend payout ratio is 571.43%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NAT shares. Wall Street Zen cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, August 28th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.00.

Nordic American Tankers Profile

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.