Nordic American Tankers Limited [NYSE: NAT] loss -15.14% or -0.38 points to close at $2.13 with a heavy trading volume of 14570119 shares. The company report on May 3, 2022 that Nordic American Tankers Ltd (NYSE: NAT) – Our Tankers are Busy.
Tuesday, May 3, 2022.
It opened the trading session at $2.36, the shares rose to $2.3625 and dropped to $2.07, the range by which the price of stock traded the whole day. The daily chart for NAT points out that the company has recorded -8.97% loss over the past six months. However, it is still -52.14% lower than its most recent low trading price.
If we look at the average trading volume of 7.20M shares, NAT reached to a volume of 14570119 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Nordic American Tankers Limited [NAT]:
Jefferies have made an estimate for Nordic American Tankers Limited shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 27, 2022. The new note on the price target was released on May 25, 2021, representing the official price target for Nordic American Tankers Limited stock. Previously, the target price had yet another raise to $3.75, while H.C. Wainwright analysts kept a Neutral rating on NAT stock.
The Average True Range (ATR) for Nordic American Tankers Limited is set at 0.28, with the Price to Sales ratio for NAT stock in the period of the last 12 months amounting to 6.57. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 0.17.
Trading performance analysis for NAT stock
Nordic American Tankers Limited [NAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.46. With this latest performance, NAT shares dropped by -18.39% in over the last four-week period, additionally sinking by -8.97% over the last 6 months – not to mention a drop of -36.61% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NAT stock in for the last two-week period is set at 40.51, with the RSI for the last a single of trading hit 33.88, and the three-weeks RSI is set at 44.47 for Nordic American Tankers Limited [NAT]. The present Moving Average for the last 50 days of trading for this stock 2.34, while it was recorded at 2.54 for the last single week of trading, and 2.15 for the last 200 days.
Nordic American Tankers Limited [NAT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Nordic American Tankers Limited [NAT] shares currently have an operating margin of -42.99 and a Gross Margin at -35.01. Nordic American Tankers Limited’s Net Margin is presently recorded at -61.01.
Return on Equity for this stock declined to -20.78, with Return on Assets sitting at -12.72.
Nordic American Tankers Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.60.
An analysis of insider ownership at Nordic American Tankers Limited [NAT]
There are presently around $139 million, or 29.30% of NAT stock, in the hands of institutional investors. The top three institutional holders of NAT stocks are: BLACKROCK INC. with ownership of 9,530,449, which is approximately 2.811% of the company’s market cap and around 1.90% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 6,024,174 shares of the stock with an approximate value of $15.12 million in NAT stocks shares; and ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC, currently with $12.77 million in NAT stock with ownership of nearly 0.993% of the company’s market capitalization.
Positions in Nordic American Tankers Limited stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 84 institutional holders increased their position in Nordic American Tankers Limited [NYSE:NAT] by around 12,793,008 shares. Additionally, 51 investors decreased positions by around 9,337,310 shares, while 28 investors held positions by with 33,248,482 shares. The mentioned changes placed institutional holdings at 55,378,800 shares, according to the latest SEC report filing. NAT stock had 25 new institutional investments in for a total of 3,053,921 shares, while 19 institutional investors sold positions of 302,946 shares during the same period.