Millennium Management LLC recently announced the acquisition of new stake in Nordic American Tankers Limited (NYSE:NAT). The institutional investor has increased its shareholding in the Industrials company by 42.49% to 7.46 million shares with purchase of 2.23 million shares. This fresh investment now brings its stake to 3.58% valued currently at $26.35 million. In addition, Dimensional Fund Advisors LP raised its holdings by 2.76 million to 6.33 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.71% or 88213.0 shares – to 3.35 million shares.
With over 2.77 million Nordic American Tankers Limited (NAT) shares trading Friday and a closing price of $3.70 on the day, the dollar volume was approximately $10.23 million. The shares have shown a positive half year performance of 8.50% and its price on 05/19/23 gained nearly 2.78%. Currently, there are 209.01M common shares owned by the public and among those 203.06M shares have been available to trade.
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The top 3 mutual fund holders in Nordic American Tankers Limited are iShares Russell 2000 ETF, Allspring Special Small Cap Value, and iShares Russell 2000 Value ETF. iShares Russell 2000 ETF owns 4.33 million shares of the company’s stock, all valued at over $15.28 million. The company sold 63280.0 shares recently to bring their total holdings to about 2.07% of the shares outstanding. Allspring Special Small Cap Value sold 48100.0 shares to see its total holdings shrink to 3.19 million shares valued at over $11.26 million and representing 1.53% of the shares outstanding. iShares Russell 2000 Value ETF sold 3858.0 shares to bring its total holdings to over 2.08 million shares at a value of $7.35 million. iShares Russell 2000 Value ETF now owns shares totaling to 1.00% of the shares outstanding.
Shares of Nordic American Tankers Limited (NYSE: NAT) opened at $3.66, up $0.06 from a prior closing price of $3.60. However, the script later moved the day high at 3.7900, up 2.78%. The company’s stock has a 5-day price change of 3.93% and 0.54% over the past three months. NAT shares are trading 20.92% year to date (YTD), with the 12-month market performance up to 41.22% higher. It has a 12-month low price of $1.80 and touched a high of $4.65 over the same period. NAT has an average intraday trading volume of 3.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.80%, -0.06%, and 11.52% respectively.
Institutional ownership of Nordic American Tankers Limited (NYSE: NAT) shares accounts for 38.10% of the company’s 209.01M shares outstanding. Mutual fund holders own 13.48%, while other institutional holders and individual stakeholders account for 28.58% and — respectively.
It has a market capitalization of $751.69M and a beta (3y monthly) value of 0.07. The stock’s trailing 12-month PE ratio is 53.62, while the earnings-per-share (ttm) stands at $0.07. The company has a PEG of 10.72 and a Quick Ratio of 1.60 with the debt-to-equity ratio at 0.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.50% over the week and 4.20% over the month.
Analysts forecast that Nordic American Tankers Limited (NAT) will achieve an EPS of $0.2 for the current quarter, $0.13 for the next quarter and $0.68 for 2024. The lowest estimate earnings-per-share for the quarter is $0.17 while analysts give the company a high EPS estimate of $0.22. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 107.10%, and 2.27% over the next financial year. EPS should shrink at an annualized rate of 5.00% over the next five years, compared to 15.30% over the past 5-year period.
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