Karp Capital Management Corp bought a new position in Nordic American Tankers Limited (NYSE:NAT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,482 shares of the shipping company’s stock, valued at approximately $118,000.

A number of other institutional investors have also modified their holdings of the company. Sheaff Brock Investment Advisors LLC raised its stake in shares of Nordic American Tankers Limited by 4.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,507 shares of the shipping company’s stock worth $192,000 after buying an additional 1,000 shares during the last quarter. Carl Domino Inc raised its stake in Nordic American Tankers Limited by 13.1% in the first quarter. Carl Domino Inc now owns 159,170 shares of the shipping company’s stock valued at $1,302,000 after buying an additional 18,420 shares during the last quarter. Wells Fargo & Company MN raised its stake in Nordic American Tankers Limited by 86.8% in the first quarter. Wells Fargo & Company MN now owns 408,783 shares of the shipping company’s stock valued at $3,344,000 after buying an additional 189,905 shares during the last quarter. WealthTrust Axiom LLC raised its stake in Nordic American Tankers Limited by 6.1% in the first quarter. WealthTrust Axiom LLC now owns 617,753 shares of the shipping company’s stock valued at $5,053,000 after buying an additional 35,392 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Nordic American Tankers Limited by 0.3% in the first quarter. IFP Advisors Inc now owns 23,286 shares of the shipping company’s stock valued at $190,000 after buying an additional 73 shares during the last quarter. Institutional investors own 27.02% of the company’s stock.

Shares of Nordic American Tankers Limited (NYSE NAT) traded down 1.75% during trading on Monday, hitting $5.61. 1,050,547 shares of the company were exchanged. The firm’s 50-day moving average price is $6.10 and its 200 day moving average price is $7.40. Nordic American Tankers Limited has a 12 month low of $5.47 and a 12 month high of $12.52. The firm’s market capitalization is $572.05 million.

Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $42.47 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s revenue was down 29.2% compared to the same quarter last year. On average, equities research analysts expect that Nordic American Tankers Limited will post ($0.32) earnings per share for the current fiscal year.

The company also recently declared a dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, August 14th will be given a $0.15 dividend. The ex-dividend date is Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio is currently 4,000.00%.

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Several equities research analysts recently commented on the stock. Vetr raised shares of Nordic American Tankers Limited from a “sell” rating to a “hold” rating and set a $7.08 price objective on the stock in a research note on Monday, May 15th. Maxim Group set a $4.00 target price on shares of Nordic American Tankers Limited and gave the stock a “sell” rating in a report on Monday. Zacks Investment Research cut shares of Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Evercore ISI cut shares of Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and decreased their price objective for the company from $6.00 to $5.00 in a report on Friday, July 21st. Finally, Jefferies Group LLC reissued a “sell” rating and set a $5.00 price objective on shares of Nordic American Tankers Limited in a report on Monday, July 17th. 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’s stock. The company has a consensus rating of “Hold” and a consensus target price 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.

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

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