The stock of Nordic American Tankers Limited (NYSE:NAT) last traded at $3.50, down -0.28% from the previous session.
Data from the available sources indicates that Nordic American Tankers Limited (NYSE:NAT) is covered by 5 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $3.00, we find $4.00. Given the previous closing price of $3.51, this indicates a potential upside of 13.96 percent. NAT stock price is now 11.15% away from the 50-day moving average and 39.01% away from the 200-day moving average. The market capitalization of the company currently stands at $730.76M.
In total, 1 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $3.94 as their price target over the next twelve months.
With the price target enhanced from $3 to $4, Jefferies Upgraded its rating from Hold to Buy for Nordic American Tankers Limited (NYSE: NAT). On July 21, 2022, Jefferies recently initiated its ‘Hold’ rating on the stock quoting a target price of $3, while ‘Evercore ISI’ rates the stock as ‘In-line’.
A total of 1.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NAT stock. A new stake in Nordic American Tankers Limited shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $11,160,000. TWO SIGMA ADVISERS, LP invested $6,545,000 in shares of NAT during the first quarter. In the first quarter, D. E. SHAW & CO., INC. acquired a new stake in Nordic American Tankers Limited valued at approximately $6,232,000. EAM INVESTORS, LLC acquired a new stake in NAT for approximately $3,252,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in NAT valued at around $2,550,000 in the second quarter. In total, there are 203 active investors with 38.00% ownership of the company’s stock.
With an opening price of $3.5400 on Wednesday morning, Nordic American Tankers Limited (NYSE: NAT) set off the trading day. During the past 12 months, Nordic American Tankers Limited has had a low of $1.40 and a high of $3.94. As of last week, the company has a debt-to-equity ratio of 0.72, a current ratio of 1.50, and a quick ratio of 1.10. The fifty day moving average price for NAT is $3.1520 and a two-hundred day moving average price translates $2.5282 for the stock.
The latest earnings results from Nordic American Tankers Limited (NYSE: NAT) was released for Jun, 2022. According to the Marine Shipping Company, earnings per share came in at -$0.02, inline with analysts’ expectations of -$0.02. This compares to -$0.18 EPS in the same period last year. The net profit margin was -72.20% and return on equity was -29.20% for NAT. The company reported revenue of $34.75 million for the quarter, compared to $16.75 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 107.5 percent. For the current quarter, analysts expect NAT to generate $47.12M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/20/2022. Investors who held shares on 12/06/2022 were paid a $0.05 dividend. On an annualized basis, this represents a $0.12 dividend and a 3.43% percent yield. There was an ex-dividend date of 12/05/2022 for this dividend.
Nordic American Tankers Limited(NAT) Company Profile
Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 24 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011. The company was incorporated in 1995 and is based in Hamilton, Bermuda.