Raymond James Trust N.A. Invests $37,000 in Nordic American Tankers Limited (NYSE:NAT)

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 disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,041 shares of the shipping company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NAT. SG Americas Securities LLC bought a new stake in shares of Nordic American Tankers in the 1st quarter valued at about $47,000. Vanguard Group Inc. grew its holdings in Nordic American Tankers by 19.6% in the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock worth $6,595,000 after purchasing an additional 275,707 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Nordic American Tankers by 18.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 58,791 shares of the shipping company’s stock worth $231,000 after purchasing an additional 8,985 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Nordic American Tankers during the 1st quarter valued at $45,000. Finally, Tidal Investments LLC boosted its position in shares of Nordic American Tankers by 18.4% in the 1st quarter. Tidal Investments LLC now owns 96,905 shares of the shipping company’s stock worth $380,000 after purchasing an additional 15,053 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Shares of NYSE:NAT opened at $2.88 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. Nordic American Tankers Limited has a 52-week low of $2.83 and a 52-week high of $4.64. The stock has a market cap of $601.34 million, a price-to-earnings ratio of 9.93 and a beta of -0.21. The business has a 50-day moving average price of $3.38 and a 200-day moving average price of $3.68.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) 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 last year, the firm posted $0.13 EPS. Equities analysts predict that Nordic American Tankers Limited will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NAT. Evercore ISI reduced 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. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group dropped their target price on shares of Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Thursday, November 14th.

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.