Nordic American Tankers Limited (NYSE:NAT) does about 3.92M shares in volume on a normal day but saw 2210212 shares change hands in Monday trading. The company now has a market cap of 626.22M USD. Its current market price is $2.96, marking a decrease of -1.66% compared to the previous close of $3.01. The 52 week high reached by this stock is $3.94 whilst the lowest price level in 52 weeks is $1.40. The script in recent trading has seen the stock touch a high of $3.03 and a low of $2.94.
Nordic American Tankers Limited (NAT) has a 20-day trading average at $3.04 and the current price is -24.87% off the 52-week high compared with 111.43% distance from its 52-week low. The 50-day simple moving average of the closing price is $3.27 and its 200-day simple moving average is $2.78. If we look at the stock’s price movements over the week, volatility stands at 4.21%, which increases to 4.32% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 42.40 to suggest the stock is neutral.
5 analysts observing the Nordic American Tankers Limited (NAT) stock have set the 12-month price targets for the company’s shares at between $3.70 and $5.00. The consensus objective for the share price is $4.38, suggesting that the stock has a potential upside of 32.42% over the period. The median price target is 26.0% away from the current levels at $4.00.
FactSet Research has provided data showing that 5 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 4 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Buy.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on September 06, 2022 when Jefferies upgraded the stock to “Buy” and issued a price target of between $3 and $4. Jefferies resumed its price target at $2-$2.50.
The current price level is -3.17%, -9.78%, and 6.43% away from its SMA20, SMA50, and SMA200 respectively, with the NAT price moving above the 50-day SMA on January 23. Nordic American Tankers Limited (NAT) stock is down -5.73% over the week and -6.92% over the past month. Its price is -3.27% year-to-date and 81.60% over the past year.
The company’s next earnings report is expected on 05/17/2023, with forecasts estimating quarterly EPS at $0.04 and $0 for whole year. Expected sales for next quarter are $60.52 million, which analysts say will come at $157.32 million for the current fiscal year and next year at $234.84 million. In addition, estimates put the company’s current quarterly revenue at an average of $47.12 million.
Its 12-month price target is $4.00. To reach the target analysts have set, the stock logically needs to grow 32.42 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.70, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $5.00.
Outstanding shares total 206.91M with insiders holding 2.75% of the shares and institutional holders owning 30.31% of the company’s common stock. The company has a return on investment of -17.60% and return on equity of -9.60%. The forward price to earnings ratio is 5.54. The beta has a value of 0.27. Price to book ratio is 1.19 and price to sales ratio is 2.57.
According to a U.S. Securities and Exchange Commission filing, iShares Russell 2000 ETF has reduced its position in Nordic American Tankers Limited (NAT) to 4,558,618 shares, mirroring a recent drop by -1.03%. iShares Russell 2000 ETF dumped 47580.0 shares of Nordic American Tankers Limited common stock bringing its total worth to about $13.95 million at the end of recent close, SEC documents show. iShares Russell 2000 ETF isn’t the only investment manager who changed stakes and is followed by Allspring Special Small Cap Value, which sold off 75000.0 shares to end up with 3,439,011 shares worth $10.52 million. TIAA-CREF Quant Small Cap Equity cut their holdings by -1.49% in the company over the course of the most recent quarter. It now holds a 1.08% position in Nordic American Tankers Limited thanks to 2.26 million shares amounting to $6.92 million.