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Boom Or Bust: What Are Nordic American Tankers Limited’s (NYSE:NAT) Future Prospects?

Nordic American Tankers Limited (NYSE:NAT)’s traded shares stood at 4.11 million during the last session, with the company’s beta value hitting 0.13. At the close of trading, the stock’s price was $3.70, to imply a decrease of -4.39% or -$0.17 in intraday trading. The NAT share’s 52-week high remains $4.65, putting it -25.68% down since that peak but still an impressive 52.97% since price per share fell to its 52-week low of $1.74. The company has a valuation of $787.18M, with an average of 4.19 million shares in intraday trading volume over the past 10 days and average of 3.44 million shares over the past 3 months.

Nordic American Tankers Limited (NYSE:NAT) trade information

After registering a -4.39% downside in the last session, Nordic American Tankers Limited (NAT) has traded red over the past five days. The stock hit a weekly high of 4.41 this Thursday, 03/16/23, dropping -4.39% in its intraday price action. The 5-day price performance for the stock is -13.95%, and 1.93% over 30 days. With these gigs, the year-to-date price performance is 20.92%. Short interest in Nordic American Tankers Limited (NYSE:NAT) saw shorts transact 7.11 million shares and set a 2.72 days time to cover.

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Analysts on Wall Street suggest a consensus price target of $4.46, implying an increase of 17.04% to the stock’s current value. The extremes give us $3.80 and $5.50 for target low and target high price respectively. As such, NAT has been trading -48.65% off suggested target high and -2.7% from its likely low.

Nordic American Tankers Limited (NAT) estimates and forecasts

Looking at statistics comparing Nordic American Tankers Limited share performance against respective industry, we note that the company has outperformed competitors. Nordic American Tankers Limited (NAT) shares are 10.78% up over the last 6 months, with its year-to-date growth rate higher than industry average at 685.71% against -12.40%. Revenue is forecast to grow 272.70% this quarter before jumping 250.00% for the next one. The rating firms project that company’s revenue will grow 156.50% compared to the previous financial year.

Revenue forecast for the current quarter as set by 2 analysts is $73.23 million. Meanwhile, for the quarter ending Mar 2023, a total of 1 analyst(s) estimate revenue growth to $77.5 million.

NAT Dividends

Nordic American Tankers Limited has its next earnings report out between May 29 and June 02. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Nordic American Tankers Limited has a forward dividend ratio of 0.26, with the share yield ticking at 7.03% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Nordic American Tankers Limited insiders hold 2.75% of total outstanding shares, with institutional holders owning 37.99% of the shares at 39.07% float percentage. In total, 37.99% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 11.43 million shares (or 5.91% of shares), all amounting to roughly $30.52 million.

The next major institution holding the largest number of shares is Morgan Stanley with 6.74 million shares, or about 3.48% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $17.98 million.

We also have iShares Russell 2000 ETF and Allspring Special Small Cap Value Fund as the top two Mutual Funds with the largest holdings of the Nordic American Tankers Limited (NAT) shares. Going by data provided on Dec 30, 2022, iShares Russell 2000 ETF holds roughly 4.66 million shares. This is just over 2.41% of the total shares, with a market valuation of $14.25 million. Data from the same date shows that the other fund manager holds a little less at 3.44 million, or 1.78% of the shares, all valued at about 12.45 million.

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