Nordic American Tankers Limited (NYSE:NAT) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC decreased its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,629 shares of the shipping company’s stock after selling 10,000 shares during the period. SeaCrest Wealth Management LLC owned about 0.24% of Nordic American Tankers worth $1,845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NAT. SG Americas Securities LLC lifted its position in shares of Nordic American Tankers by 59.9% during the third quarter. SG Americas Securities LLC now owns 69,296 shares of the shipping company’s stock worth $254,000 after purchasing an additional 25,953 shares in the last quarter. Bluefin Capital Management LLC purchased a new position in Nordic American Tankers in the 2nd quarter valued at approximately $47,000. Cetera Investment Advisers grew its stake in shares of Nordic American Tankers by 48.8% in the second quarter. Cetera Investment Advisers now owns 272,596 shares of the shipping company’s stock worth $1,085,000 after acquiring an additional 89,450 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Nordic American Tankers during the second quarter worth $373,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Nordic American Tankers by 50.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after acquiring an additional 5,347 shares in the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Stock Up 0.8 %

Shares of NAT traded up $0.03 during mid-day trading on Wednesday, reaching $3.57. The company’s stock had a trading volume of 85,661 shares, compared to its average volume of 2,491,433. The company’s 50 day moving average is $3.64 and its 200 day moving average is $3.84. The stock has a market cap of $745.40 million, a PE ratio of 11.05 and a beta of -0.20. Nordic American Tankers Limited has a 12-month low of $3.31 and a 12-month high of $4.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The company had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. During the same quarter last year, the company earned $0.13 earnings per share. Equities analysts anticipate that Nordic American Tankers Limited will post 0.38 EPS for the current fiscal year.

Nordic American Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 13.45%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers’s payout ratio is 150.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NAT. Jefferies Financial Group restated a “hold” rating and set a $4.00 price target on shares of Nordic American Tankers in a report on Thursday, September 12th. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI lowered their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th.

About Nordic American Tankers

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.