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Shares Of Nordic American Tankers Limited (NYSE: NAT) Loss -8.07% In A Month

Nordic American Tankers Limited (NYSE:NAT) has a beta value of 0.27 and has seen 0.78 million shares traded in the recent trading session. The company, currently valued at $626.22M, closed the recent trade at $2.87 per share which meant it lost -$0.09 on the day or -3.04% during that session. The NAT stock price is -37.28% off its 52-week high price of $3.94 and 51.22% above the 52-week low of $1.40. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.69 million shares traded. The 3-month trading volume is 3.85 million shares.

Nordic American Tankers Limited (NYSE:NAT) trade information

Sporting -3.04% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the NAT stock price touched $2.87 or saw a rise of 9.18%. Year-to-date, Nordic American Tankers Limited shares have moved -3.27%, while the 5-day performance has seen it change -8.07%. Over the past 30 days, the shares of Nordic American Tankers Limited (NYSE:NAT) have changed -8.07%. Short interest in the company has seen 8.76 million shares shorted with days to cover at 2.42.

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Wall Street analysts have a consensus price target for the stock at $4.24, which means that the shares’ value could jump 32.31% from the levels at last check today. The projected low price target is $3.70 while the price target rests at a high of $5.00. In that case, then, we find that the latest price level in today’s session is -74.22% off the targeted high while a plunge would see the stock gain -28.92% from the levels at last check today.

Nordic American Tankers Limited (NAT) estimates and forecasts

Figures show that Nordic American Tankers Limited shares have outperformed across the wider relevant industry. The company’s shares have gained 17.00% over the past 6 months, with this year growth rate of 122.06%, compared to 12.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 263.60% and 207.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 152.80%.

2 analysts offering their estimates for the company have set an average revenue estimate of $72.16 million for the current quarter. 1 have an estimated revenue figure of $76.37 million for the next quarter concluding in Mar 2023.

NAT Dividends

Nordic American Tankers Limited is expected to release its next earnings report between February 23 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.12 at a share yield of 4.05%. The company’s dividend yield has gone up over the past 12 months.

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

Insiders own 2.75% of the company shares, while shares held by institutions stand at 37.91% with a share float percentage of 38.98%. Investors are also buoyed by the number of investors in a company, with Nordic American Tankers Limited having a total of 218 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 11.43 million shares worth more than $33.2 million. As of Sep 29, 2022, Blackrock Inc. held 5.91% of shares outstanding.

The other major institutional holder is Morgan Stanley, with the holding of over 6.74 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $19.57 million and represent 3.48% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and Allspring Special Small Cap Value Fund. As of Dec 30, 2022, the former fund manager holds about 2.41% shares in the company for having 4.66 million shares of worth $13.52 million while later fund manager owns 3.44 million shares of worth $9.99 million as of Nov 29, 2022, which makes it owner of about 1.78% of company’s outstanding stock.

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