The price of Nordic American Tankers Limited (NYSE:NAT) shares last traded on Wall Street rose 3.90% to $4.00.
Based on available information, 6 analysts follow Nordic American Tankers Limited (NYSE:NAT). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $6.00 and a low of $4.00, we find $4.80. Given the previous closing price of $3.85, this indicates a potential upside of 24.68 percent. NAT stock price is now 8.60% away from the 50-day moving average and 14.42% away from the 200-day moving average. The market capitalization of the company currently stands at $820.04M.
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Among analysts, 1 rate the stock a hold while 5 rate it a buy. Brokers who have rated the stock have averaged $4.93 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).
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 MARSHALL WACE, LLP during the first quarter worth $17,643,000. WEXFORD CAPITAL LP invested $3,308,000 in shares of NAT during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Nordic American Tankers Limited valued at approximately $698,000. SEI INVESTMENTS CO acquired a new stake in NAT for approximately $599,000. VIRTU FINANCIAL LLC purchased a new stake in NAT valued at around $410,000 in the second quarter. In total, there are 247 active investors with 38.10% ownership of the company’s stock.
A candlestick chart of Nordic American Tankers Limited (NYSE: NAT) showed a price of $3.9500 on Monday morning. During the past 12 months, Nordic American Tankers Limited has had a low of $2.33 and a high of $4.65. As of last week, the company has a debt-to-equity ratio of 0.51, a current ratio of 1.00, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $1.06B, which is based on a 9.22 price-to-earnings ratio, a 1.84 price-to-earnings-growth ratio, and a beta of 0.11. The fifty day moving average price for NAT is $3.6928 and a two-hundred day moving average price translates $3.5026 for the stock.
The latest earnings results from Nordic American Tankers Limited (NYSE: NAT) was released for Mar, 2023. According to the Marine Shipping Company, earnings per share came in at $0.22, beating analysts’ expectations of $0.2 by 0.02. This compares to -$0.14 EPS in the same period last year. The company reported revenue of $87.09 million for the quarter, compared to $15.52 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 461.14 percent. For the current quarter, analysts expect NAT to generate $68.32M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/06/2023. Investors who held shares on 06/15/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.38 dividend and a 9.50% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, NAT is presently at 150.20%.
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 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.
