In the last trading session, 5.84 million shares of the Nordic American Tankers Limited (NYSE:NAT) were traded, and its beta was 0.07. Most recently the company’s share price was $3.83, and it changed around -$0.18 or -4.49% from the last close, which brings the market valuation of the company to $778.10M. NAT currently trades at a discount to its 52-week high of $4.65, offering almost -21.41% off that amount. The share price’s 52-week low was $1.80, which indicates that the current value has risen by an impressive 53.0% since then. We note from Nordic American Tankers Limited’s average daily trading volume that its 10-day average is 2.95 million shares, with the 3-month average coming to 3.28 million.
Nordic American Tankers Limited stock received a consensus recommendation rating of a Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended NAT as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Nordic American Tankers Limited is expected to report earnings per share of $0.14 for the current quarter.
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Nordic American Tankers Limited (NYSE:NAT) trade information
Instantly NAT has showed a red trend with a performance of -4.49% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.16 on Tuesday, 05/23/23 increased the stock’s daily price by 7.93%. The company’s shares are currently up 25.16% year-to-date, but still up 6.09% over the last five days. On the other hand, Nordic American Tankers Limited (NYSE:NAT) is 1.59% up in the 30-day period. We can see from the shorts that 7.05 million shares have been sold at a short interest cover period of 2.62 day(s).
The consensus price target as assigned by Wall Street analysts is $4.76, which translates to bulls needing to increase their stock price by 19.54% from its current value. Analyst projections state that NAT is forecast to be at a low of $4.00 and a high of $5.50. In order for the stock price to hit the forecast high, the stock would need to plunge -43.6% from its current level, while the stock would need to crash -4.44% from its current level to reach the projected low.
Nordic American Tankers Limited (NAT) estimates and forecasts
Nordic American Tankers Limited share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 5.51 percent over the past six months and at a 714.29% annual growth rate that is well above the industry average of -18.50%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 800.00% in revenue this quarter, and will report an increase of 80.00% in the next quarter. The year-over-year growth rate is expected to be 76.20%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $66.43 million in revenue for the current quarter. 3 analysts expect Nordic American Tankers Limited to make $57.27 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $34.75 million and $48.59 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 91.20%. Forecasts for the next quarter put sales growth at 17.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 15.30%. Nordic American Tankers Limited earnings are expected to increase by 107.10% in 2023, but the outlook is positive 5.00% per year for the next five years.
Nordic American Tankers Limited’s next quarterly earnings report is expected to be released around May 29 and June 02. The annual dividend yield of the stock is 6.79 percent and its annual dividend per share was 0.26. It is important to note, however, that the 6.79% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Nordic American Tankers Limited (NYSE:NAT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.75% of Nordic American Tankers Limited shares, and 42.04% of them are in the hands of institutional investors. The stock currently has a share float of 43.23%. Nordic American Tankers Limited stock is held by 247 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2023, it held 5.80% of the shares, which is about 12.12 million shares worth $47.99 million.
Morgan Stanley, with 3.41% or 7.11 million shares worth $28.17 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
iShares Russell 2000 ETF and Allspring Special Small Cap Value Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 4.51 million shares worth $20.0 million, making up 2.33% of all outstanding shares. On the other hand, Allspring Special Small Cap Value Fund held roughly 3.24 million shares worth around $14.35 million, which represents about 1.67% of the total shares outstanding.