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With 58.33% Distance From Low, Is Nordic American Tankers Limited (NYSE:NAT) Poised For More Gains?

In last trading session, Nordic American Tankers Limited (NYSE:NAT) saw 4.56 million shares changing hands with its beta currently measuring 0.02. Company’s recent per share price level of $3.36 trading at -$0.06 or -1.75% at ring of the bell on the day assigns it a market valuation of $708.09M. That closing price of NAT’s stock is at a discount of -5.36% from its 52-week high price of $3.54 and is indicating a premium of 58.33% from its 52-week low price of $1.40. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 7.44 million shares which gives us an average trading volume of 4.77 million if we extend that period to 3-months.

For Nordic American Tankers Limited (NAT), analysts’ consensus is at an average recommendation of an Overweight. Splitting up the data highlights that, out of 4 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.02 in the current quarter.

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Nordic American Tankers Limited (NYSE:NAT) trade information

Upright in the red during last session for losing -1.75%, in the last five days NAT remained trading in the green while hitting it’s week-highest on Tuesday, 09/20/22 when the stock touched $3.36 price level, adding 5.08% to its value on the day. Nordic American Tankers Limited’s shares saw a change of 98.82% in year-to-date performance and have moved 0.60% in past 5-day. Nordic American Tankers Limited (NYSE:NAT) showed a performance of 20.86% in past 30-days. Number of shares sold short was 13.76 million shares which calculate 3.01 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.88 to the stock, which implies a rise of 13.4% to its current value. Analysts have been projecting $2.50 as a low price target for the stock while placing it at a high target of $5.00. It follows that stock’s current price would drop -48.81% in reaching the projected high whereas dropping to the targeted low would mean a gain of 25.6% for stock’s current value.

Nordic American Tankers Limited (NAT) estimates and forecasts

Statistics highlight that Nordic American Tankers Limited is scoring comparatively higher than the scores of other players of the relevant industry. The company added 79.68% of value to its shares in past 6 months, showing an annual growth rate of 94.12% while that of industry is 17.90. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 87.50% in the current quarter and calculating 91.70% increase in the next quarter. This year revenue growth is estimated to rise 325.10% from the last financial year’s standing.

1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $69.15 million for the same. And 1 analysts are in estimates of company making revenue of $74.15 million in the next quarter that will end on Sep 2022. Company posted $14.49 million and $8.35 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 377.20% while estimating it to be 788.00% for the next quarter.

NAT Dividends

Nordic American Tankers Limited is more likely to be releasing its next quarterly report between February 24 and February 28 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Nordic American Tankers Limited (NYSE:NAT)’s Major holders

Insiders are in possession of 2.85% of company’s total shares while institution are holding 28.78 percent of that, with stock having share float percentage of 29.62%. Investors also watch the number of corporate investors in a company very closely, which is 28.78% institutions for Nordic American Tankers Limited that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at NAT for having 9.9 million shares of worth $21.08 million. And as of Mar 30, 2022, it was holding 5.12% of the company’s outstanding shares.

The second largest institutional holder is Morgan Stanley, which was holding about 5.37 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 2.77% of outstanding shares, having a total worth of $11.43 million.

On the other hand, Allspring Special Small Cap Value Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of May 30, 2022, the former fund manager was holding 4.27 million shares of worth $8.75 million or 2.21% of the total outstanding shares. The later fund manager was in possession of 4.26 million shares on Jun 29, 2022, making its stake of worth around $9.07 million in the company or a holder of 2.20% of company’s stock.

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