Navellier & Associates Inc., a well-known institutional investor, has recently acquired 149,528 shares of Nordic American Tankers Limited (NYSE:NAT) during the last reporting period. The new stake has been valued at around $458,000, which highlights that the institutional investor obtained roughly 0.08% ownership of Nordic American Tankers by purchasing the aforementioned volume of shares.
Nordic American Tankers is a prominent name in the international tanker industry and known for its ownership and operation of Suezmax crude oil tankers. The company was started by Herbjorn Hansson on June 12, 1995 in Hamilton, Bermuda.
In its most recent Form 13F filing with the US Securities and Exchange Commission (SEC), Navellier & Associates Inc.’s recent acquisition of Nordic American Tanker’s stock has raised interest among market analysts as to what value it can bring to NAT’s future performance. Some speculate this move could open up new avenues and collaborations that would propel the company’s growth further.
Investor confidence in Nordic American Tankers took a hit when it released its quarterly earnings data on February 27th this year. The shipping company had reported earnings per share (EPS) totaling $0.17 for the quarter– falling short of most analysts’ forecasted EPS estimate of $0.22 by $0.05 margin instead. It revealed a net margin of 8.95% and a return on equity (ROE) of 2.96%. This slump in EPS send worries through market analysts wondering about NAT’s future prospects.
The shipping firm generated revenue amounting to $71.10 million during the reporting period itself compared to forecasted revenue estimates by analysts standing at around $83.48 million– marking lower-than-anticipated Q4 revenues.
Despite these stumbling blocks facing Nordic American Tanker Ltd.’s business growth trajectory, equities analysists predict that it can still post 0.58 EPS for the rest of the fiscal year. Only time will warrant how NAT shall perform with Navellier & Associates in its back corner- let us see where this massive acquisition takes Nordic American Tankers in the near future.
Source : Best Stocks