Victory Capital Management Inc. Has $214,000 Stake in Nordic American Tankers Limited (NYSE:NAT)

Victory Capital Management Inc. increased its holdings in Nordic American Tankers Limited (NYSE:NAT) by 135.1% in the third quarter, Holdings Channel reports. The institutional investor owned 58,309 shares of the shipping company’s stock after buying an additional 33,507 shares during the period. Victory Capital Management Inc.’s holdings in Nordic American Tankers were worth $214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $6,595,000 after acquiring an additional 275,707 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Nordic American Tankers by 18.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 58,791 shares of the shipping company’s stock valued at $231,000 after acquiring an additional 8,985 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Nordic American Tankers in the first quarter valued at approximately $45,000. Tidal Investments LLC increased its stake in Nordic American Tankers by 18.4% in the first quarter. Tidal Investments LLC now owns 96,905 shares of the shipping company’s stock valued at $380,000 after acquiring an additional 15,053 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its stake in Nordic American Tankers by 6.9% in the second quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock valued at $185,000 after acquiring an additional 3,003 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $2.68 on Friday. The firm’s 50-day moving average price is $3.35 and its 200-day moving average price is $3.66. Nordic American Tankers Limited has a 1-year low of $2.63 and a 1-year high of $4.64. The firm has a market capitalization of $559.57 million, a P/E ratio of 9.24 and a beta of -0.21. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The business had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same quarter in the previous year, the business earned $0.13 EPS. Equities research analysts anticipate that Nordic American Tankers Limited will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NAT shares. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a research note on Friday. Finally, Evercore ISI decreased their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th.

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.