10,041 Shares in Nordic American Tankers Limited (NYSE:NAT) Bought by Raymond James Trust N.A.

Raymond James Trust N.A. acquired a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,041 shares of the shipping company’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Nordic American Tankers during the 2nd quarter worth about $25,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Nordic American Tankers during the first quarter valued at approximately $45,000. SG Americas Securities LLC bought a new position in shares of Nordic American Tankers during the first quarter valued at approximately $47,000. Bluefin Capital Management LLC purchased a new stake in shares of Nordic American Tankers in the second quarter worth approximately $47,000. Finally, Caprock Group LLC bought a new stake in shares of Nordic American Tankers during the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

NAT has been the topic of several research analyst reports. Evercore ISI cut their price objective 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. Jefferies Financial Group cut their price target on shares of Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th.

Nordic American Tankers Price Performance

Shares of NAT stock opened at $2.88 on Friday. Nordic American Tankers Limited has a twelve month low of $2.83 and a twelve month high of $4.64. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $3.38 and a two-hundred day simple moving average of $3.68. The stock has a market capitalization of $601.34 million, a price-to-earnings ratio of 9.93 and a beta of -0.21.

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. The company had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, analysts predict that Nordic American Tankers Limited will post 0.28 EPS for the current fiscal year.

Nordic American Tankers Company 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.