Global X Management Co. LLC Purchases 49,761 Shares of Nordic American Tankers Limited (NAT)

Global X Management Co. LLC boosted its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,098,976 shares of the shipping company’s stock after buying an additional 49,761 shares during the period. Global X Management Co. LLC owned 1.08% of Nordic American Tankers Limited worth $6,968,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd bought a new stake in Nordic American Tankers Limited during the first quarter worth about $106,000. Northstar Wealth Partners LLC bought a new stake in Nordic American Tankers Limited during the first quarter worth about $110,000. Karp Capital Management Corp bought a new stake in Nordic American Tankers Limited during the first quarter worth about $118,000. Airain ltd bought a new stake in Nordic American Tankers Limited during the first quarter worth about $126,000. Finally, Aperio Group LLC increased its stake in Nordic American Tankers Limited by 55.2% in the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after buying an additional 7,994 shares in the last quarter. 27.02% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Limited (NYSE:NAT) opened at 5.29 on Friday. The company’s 50-day moving average price is $5.96 and its 200-day moving average price is $7.18. Nordic American Tankers Limited has a 12-month low of $5.25 and a 12-month high of $12.07. The company’s market cap is $539.42 million.

Nordic American Tankers Limited (NYSE:NAT) last posted its earnings results on Monday, August 7th. The shipping company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.03. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The business had revenue of $39.10 million during the quarter, compared to analyst estimates of $42.47 million. During the same quarter in the prior year, the company earned $0.15 EPS. The company’s revenue was down 29.2% on a year-over-year basis. Equities analysts anticipate that Nordic American Tankers Limited will post ($0.39) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 14th will be issued a $0.15 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.34%. Nordic American Tankers Limited’s dividend payout ratio is presently 2,000.00%.

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A number of research firms recently issued reports on NAT. Zacks Investment Research downgraded Nordic American Tankers Limited from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 5th. Maxim Group set a $4.00 target price on Nordic American Tankers Limited and gave the company a “sell” rating in a research report on Monday, August 7th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $5.00 target price on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. BidaskClub downgraded Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Evercore ISI downgraded Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and lowered their target price for the company from $6.00 to $5.00 in a research report on Friday, July 21st. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company. Nordic American Tankers Limited has a consensus rating of “Hold” and an average price target of $6.93.

About Nordic American Tankers Limited

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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Institutional Ownership by Quarter for Nordic American Tankers Limited (NYSE:NAT)

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