Nordic American Tankers Limited (NYSE:NAT) has a beta value of 0.51 and has seen 1,518,485 shares traded in the recent trading session. The company, currently valued at $589.78 Million, closed the recent trade at $3.93 per share which meant it lost -$0.17 on the day or -4.15% during that session. The NAT stock price is -129.01% off its 52-week high price of $9 and 51.65% above the 52-week low of $1.9. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.57 Million shares traded. The 3-month trading volume is 3.75 Million shares.
The consensus among analysts is that Nordic American Tankers Limited (NAT) is an Overweight stock at the moment, with a recommendation rating of 2.3. 1 analysts rate the stock as a Sell, while none rate it as Overweight. 2 out of 7 have rated it as a Hold, with 4 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.04.
Nordic American Tankers Limited (NYSE:NAT) trade information
Despite being -4.15% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Friday, Sep 11 when the NAT stock price touched $4.11-4 or saw a rise of 4.01%. Year-to-date, Nordic American Tankers Limited shares have moved -19.82%, while the 5-day performance has seen it change 3.54%. Over the past 30 days, the shares of Nordic American Tankers Limited (NYSE:NAT) have changed -12.33%. Short interest in the company has seen 16.91 Million shares shorted with days to cover at 4.51.
Wall Street analysts have a consensus price target for the stock at $5.21, which means that the shares’ value could jump 32.57% from current levels. The projected low price target is $1.4 while the price target rests at a high of $8. In that case, then, we find that the current price level is +103.56% off the targeted high while a plunge would see the stock lose -64.38% from current levels.
Nordic American Tankers Limited (NAT) estimates and forecasts
Figures show that Nordic American Tankers Limited shares have underperformed across the wider relevant industry. The company’s shares have gained +64% over the past 6 months, with this year growth rate of -1042.86%, compared to 4.9% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 60% and -44.4% for the next quarter. Revenue growth from the last financial year stood is estimated to be +51.6%.
5 analysts offering their estimates for the company have set an average revenue estimate of $37.84 Million for the current quarter. 5 have an estimated revenue figure of $51.25 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $35.18 Million and $58.82 Million respectively for this quarter and the next, and analysts expect sales will grow by 7.6% for the current quarter and -12.9% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +14% over the past 5 years. Earnings growth for 2020 is a modest +89.2% while over the next 5 years, the company’s earnings are expected to increase by 5%.
Nordic American Tankers Limited is expected to release its next earnings report between November 23 and November 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.56 at a share yield of 13.66%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 10.45%.
Nordic American Tankers Limited (NYSE:NAT)’s Major holders
Insiders own 2.62% of the company shares, while shares held by institutions stand at 36.42% with a share float percentage of 37.4%. Investors are also buoyed by the number of investors in a company, with Nordic American Tankers Limited having a total of 212 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 7.99 Million shares worth more than $32.42 Million. As of June 29, 2020, Blackrock Inc. held 5.42% of shares outstanding.
The other major institutional holder is Morgan Stanley, with the holding of over 5.08 Million shares as of June 29, 2020. The firm’s total holdings are worth over $20.61 Million and represent 3.45% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and iShares Russell 2000 Value ETF. As of June 29, 2020, the former fund manager holds about 2.05% shares in the company for having 3013463 shares of worth $12.23 Million while later fund manager owns 1.24 Million shares of worth $5.04 Million as of June 29, 2020, which makes it owner of about 0.84% of company’s outstanding stock.