The Bank of New York Mellon Corp Has $2.79 Million Stake in Nordic American Tankers Limited (NAT)

The Bank of New York Mellon Corp Has $2.79 Million Stake in Nordic American Tankers Limited (NAT)

A number of other large investors also recently modified their holdings of NAT. Sheaff Brock Investment Advisors LLC boosted 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 valued at $192,000 after buying an additional 1,000 shares in the last quarter. Carl Domino Inc increased its position 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 increased its position 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 increased its position 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 increased its position 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 26.91% of the company’s stock.

Bank of New York Mellon Corp reduced its stake in Nordic American Tankers Limited (NYSE:NAT) by 50.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 341,365 shares of the shipping company’s stock after selling 352,242 shares during the period. Bank of New York Mellon Corp owned 0.33% of Nordic American Tankers Limited worth $2,792,000 as of its most recent SEC filing.

Shares of Nordic American Tankers Limited (NAT) traded down 0.34% during trading on Wednesday, hitting $5.78. 748,038 shares of the company’s stock were exchanged. The company’s market cap is $589.38 million. Nordic American Tankers Limited has a 12-month low of $5.47 and a 12-month high of $12.52. The company has a 50-day moving average of $6.10 and a 200-day moving average of $7.40.

Nordic American Tankers Limited (NYSE:NAT) last released its quarterly earnings results on Monday, May 8th. The shipping company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $55.20 million during the quarter, compared to analysts’ expectations of $55.53 million. Nordic American Tankers Limited had a return on equity of 0.25% and a net margin of 0.06%. The firm’s revenue was down 28.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 EPS. On average, equities analysts expect that Nordic American Tankers Limited will post ($0.32) earnings per share for the current fiscal year.

Several research firms have weighed in on NAT. BidaskClub downgraded shares of Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Jefferies Group LLC restated a “sell” rating and set a $5.00 price objective on shares of Nordic American Tankers Limited in a research report on Monday, July 17th. Maxim Group set a $5.00 price objective on shares of Nordic American Tankers Limited and gave the company a “sell” rating in a research report on Saturday, July 22nd. Evercore ISI downgraded 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 research report on Friday, July 21st. Finally, Vetr downgraded shares of Nordic American Tankers Limited from a “strong-buy” rating to a “buy” rating and set a $6.89 price objective on the stock. in a research report on Thursday, June 1st. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.07.

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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