Tidal Investments LLC Has $1.55 Million Stock Holdings in Nordic American Tankers Limited $NAT

Key Points

• Tidal Investments more than doubled its Nordic American Tankers position in the second quarter, acquiring 145,184 additional shares for a total stake worth approximately $1.55 million. Institutional investors collectively own 44.29% of the company.
• Nordic American Tankers reported quarterly EPS of $0.32, exceeding the $0.30 consensus estimate, although revenue of $79.3 million fell short of expectations.
• The company raised its quarterly dividend to $0.27 per share, equivalent to an annualized $1.08 payout and a 13.2% yield. Analysts remain mixed, with the stock carrying an overall “Hold” rating and an average price target of $5.33.

Tidal Investments LLC boosted its position in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 108.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 279,390 shares of the shipping company's stock after acquiring an additional 145,184 shares during the quarter. Tidal Investments LLC owned 0.13% of Nordic American Tankers worth $1,548,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NAT. SmartHarvest Portfolios LLC lifted its stake in Nordic American Tankers by 18.0% during the first quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company's stock worth $80,000 after purchasing an additional 2,087 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Nordic American Tankers by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company's stock valued at $129,000 after purchasing an additional 2,416 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Nordic American Tankers by 18.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 22,831 shares of the shipping company's stock valued at $79,000 after purchasing an additional 3,571 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Nordic American Tankers during the 2nd quarter worth $30,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Nordic American Tankers during the 2nd quarter worth $32,000. 44.29% of the stock is owned by institutional investors.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock opened at $8.15 on Friday. The company's 50 day moving average price is $6.74 and its two-hundred day moving average price is $6.03. The firm has a market capitalization of $1.73 billion, a P/E ratio of 13.82 and a beta of -0.54. Nordic American Tankers Limited has a fifty-two week low of $3.06 and a fifty-two week high of $8.27. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.27 and a quick ratio of 3.05.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Nordic American Tankers had a net margin of 47.04% and a return on equity of 20.58%. The company had revenue of $79.30 million during the quarter, compared to the consensus estimate of $84.18 million. On average, equities analysts forecast that Nordic American Tankers Limited will post 0.6 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend is Thursday, September 10th. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.22. Nordic American Tankers's payout ratio is currently 183.05%.

Analyst Ratings Changes

Several analysts recently weighed in on NAT shares. B Riley restated a "buy" rating on shares of Nordic American Tankers in a research report on Friday, August 28th. B. Riley Financial lifted their target price on Nordic American Tankers from $7.50 to $8.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Weiss Ratings downgraded Nordic American Tankers from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 28th. Finally, Wall Street Zen raised shares of Nordic American Tankers from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $5.33.

About Nordic American Tankers

Nordic American Tankers Limited NYSE: NAT is an international tanker company that owns and operates crude oil tankers. The company's fleet is primarily composed of Suezmax vessels, which transport large quantities of crude oil between major ports and energy markets.

Nordic American Tankers provides seaborne crude oil transportation services to oil companies, trading firms and other customers worldwide. Its vessels may operate under voyage charters, time charters or other commercial arrangements, allowing the company to serve changing demand across global shipping routes.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers has historically emphasized operating a focused Suezmax tanker fleet and maintaining a presence in international crude oil transportation.

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