MQS Management LLC Purchases Shares of 230,850 Nordic American Tankers Limited $NAT

MQS Management LLC purchased a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 230,850 shares of the shipping company’s stock, valued at approximately $725,000. MQS Management LLC owned 0.11% of Nordic American Tankers as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Savant Capital LLC acquired a new stake in Nordic American Tankers in the second quarter valued at approximately $28,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Nordic American Tankers in the 3rd quarter valued at $32,000. HBK Sorce Advisory LLC purchased a new stake in shares of Nordic American Tankers during the third quarter worth about $33,000. Fortis Capital Advisors LLC purchased a new position in Nordic American Tankers in the 3rd quarter valued at about $37,000. Finally, Belpointe Asset Management LLC acquired a new stake in Nordic American Tankers in the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

NAT has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Evercore boosted their price target on Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $3.50 price objective on shares of Nordic American Tankers in a report on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Nordic American Tankers presently has an average rating of “Hold” and a consensus price target of $3.25.

Nordic American Tankers Stock Up 1.6%

Shares of NYSE:NAT opened at $4.32 on Wednesday. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $4.38. The stock has a market cap of $914.76 million, a P/E ratio of 216.11 and a beta of -0.44. The business has a fifty day moving average of $3.79 and a two-hundred day moving average of $3.47. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.86.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%.The company had revenue of $40.18 million for the quarter, compared to analysts’ expectations of $52.89 million. On average, research analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 12.0%. The ex-dividend date was Monday, December 8th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.10. Nordic American Tankers’s dividend payout ratio (DPR) is presently 2,600.00%.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.