WealthTrust Axiom LLC Acquires 4,665 Shares of Nordic American Tankers Limited (NYSE:NAT)

WealthTrust Axiom LLC grew its holdings in Nordic American Tankers Limited (NYSE:NAT) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 652,683 shares of the shipping company’s stock after purchasing an additional 4,665 shares during the quarter. WealthTrust Axiom LLC owned approximately 0.31% of Nordic American Tankers worth $1,632,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NAT. Sequoia Financial Advisors LLC bought a new position in Nordic American Tankers in the fourth quarter worth approximately $26,000. Summit Financial LLC purchased a new position in shares of Nordic American Tankers in the 4th quarter valued at $32,000. Avantax Advisory Services Inc. bought a new position in shares of Nordic American Tankers in the 4th quarter worth $33,000. AXQ Capital LP purchased a new stake in shares of Nordic American Tankers during the 4th quarter worth $43,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Nordic American Tankers during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 8.3 %

Shares of NYSE:NAT opened at $2.54 on Friday. The business’s 50-day moving average is $2.53 and its 200 day moving average is $2.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $4.40. The firm has a market capitalization of $529.31 million, a P/E ratio of 8.74 and a beta of 0.02.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. On average, research analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 9.47%. Nordic American Tankers’s payout ratio is currently 109.09%.

Analysts Set New Price Targets

NAT has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Friday, February 28th. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday.

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.