Apollon Wealth Management LLC Acquires 89,577 Shares of Nordic American Tankers Limited (NYSE:NAT)

Apollon Wealth Management LLC boosted its holdings in Nordic American Tankers Limited (NYSE:NAT) by 268.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,991 shares of the shipping company’s stock after purchasing an additional 89,577 shares during the quarter. Apollon Wealth Management LLC owned about 0.06% of Nordic American Tankers worth $451,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of Nordic American Tankers during the second quarter valued at approximately $25,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nordic American Tankers during the first quarter valued at approximately $45,000. SG Americas Securities LLC bought a new stake in shares of Nordic American Tankers during the first quarter valued at approximately $47,000. Bluefin Capital Management LLC bought a new stake in shares of Nordic American Tankers during the second quarter valued at approximately $47,000. Finally, Caprock Group LLC bought a new stake in shares of Nordic American Tankers during the second quarter valued at approximately $55,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Down 2.6 %

NAT stock opened at $2.98 on Monday. The stock’s fifty day simple moving average is $3.49 and its two-hundred day simple moving average is $3.74. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. Nordic American Tankers Limited has a 1-year low of $2.95 and a 1-year high of $4.64. The stock has a market cap of $622.22 million, a P/E ratio of 10.28 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The business had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Analysts expect that Nordic American Tankers Limited will post 0.28 EPS for the current year.

Nordic American Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 annualized dividend and a yield of 16.11%. Nordic American Tankers’s dividend payout ratio is currently 165.52%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NAT shares. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Financial Group cut their target price on Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Thursday. Finally, Evercore ISI cut their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th.

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.