Sigma Planning Corp Purchases New Stake in Nordic American Tankers Limited (NYSE:NAT)

Sigma Planning Corp acquired a new position in shares of Nordic American Tankers Limited (NYSE:NAT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,307 shares of the shipping company’s stock, valued at approximately $108,000.

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

Nordic American Tankers Stock Performance

NYSE:NAT opened at $2.98 on Monday. Nordic American Tankers Limited has a 52-week low of $2.95 and a 52-week high of $4.64. The business’s fifty day moving average is $3.49 and its 200 day moving average is $3.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The firm has a market cap of $622.22 million, a price-to-earnings ratio of 10.28 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT) last announced 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. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The firm had revenue of $66.10 million for the quarter, compared to the consensus estimate of $54.34 million. During the same period in the prior year, the firm posted $0.13 earnings per share. Research analysts predict that Nordic American Tankers Limited will post 0.28 EPS for the current year.

Nordic American Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 16.11%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers’s payout ratio is 165.52%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NAT. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday. Evercore ISI reduced their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. Finally, Jefferies Financial Group dropped 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 research note on Thursday.

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.