There’s Still Time to Buy Nordic American Tankers Ltd (NYSE:NAT) Stock

The price of Nordic American Tankers Ltd (NYSE:NAT) shares last traded on Wall Street fell -1.94% to $4.54.

Based on available information, 6 analysts follow Nordic American Tankers Ltd (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 $4.50, we find $5.55. Given the previous closing price of $4.63, this indicates a potential upside of 19.87 percent. NAT stock price is now 10.20% away from the 50-day moving average and 17.63% away from the 200-day moving average. The market capitalization of the company currently stands at $947.95M.

Among analysts, 1 rate the stock a hold while 5 rate it a buy. Brokers who have rated the stock have averaged $5.50 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 Ltd (NYSE: NAT).

A total of 3.02% of the company’s stock is owned by insiders.

A candlestick chart of Nordic American Tankers Ltd (NYSE: NAT) showed a price of $4.6300 on Wednesday morning. During the past 12 months, Nordic American Tankers Ltd has had a low of $2.83 and a high of $4.83. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 0.99, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $1.16B, which is based on a 7.95 price-to-earnings ratio, a 1.59 price-to-earnings-growth ratio, and a beta of 0.22. The fifty day moving average price for NAT is $4.1196 and a two-hundred day moving average price translates $3.8595 for the stock.

The latest earnings results from Nordic American Tankers Ltd (NYSE: NAT) was released for Jun, 2023. According to the Marine Shipping Company, earnings per share came in at $0.13, inline with analysts’ expectations of $0.13. This compares to -$0.02 EPS in the same period last year. The net profit margin was 30.20% and return on equity was 22.86% for NAT. The company reported revenue of $67.8 million for the quarter, compared to $34.75 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 95.1 percent. For the current quarter, analysts expect NAT to generate $57.11M in revenue.

Nordic American Tankers Ltd(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.

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