Nordic American Tankers Limited [NAT] moved up 6.38: Why It’s Important

Nordic American Tankers Limited [NYSE: NAT] surged by $0.21 during the normal trading session on Tuesday and reaching a high of $3.51 during the day while it closed the day at $3.50. The company report on November 10, 2022 that Nordic American Tankers Ltd (NYSE: NAT) – 3Q 2022 dividend announcement.

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Thursday, November 10, 2022.

Nordic American Tankers Limited stock has also gained 2.34% of its value over the past 7 days. However, NAT stock has inclined by 25.45% in the 3 months of the year. Over the past six months meanwhile, it has gained 33.59% and gained 107.10% year-on date.

The market cap for NAT stock reached $699.58 million, with 208.80 million shares outstanding and 203.06 million shares in the current float. Compared to the average trading volume of 5.15M shares, NAT reached a trading volume of 8048108 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Nordic American Tankers Limited [NAT]:

Jefferies have made an estimate for Nordic American Tankers Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 06, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on July 21, 2022, representing the official price target for Nordic American Tankers Limited stock. Previously, the target price had yet another raise from $2 to $2.50, while Jefferies kept a Hold rating on NAT stock.

The Average True Range (ATR) for Nordic American Tankers Limited is set at 0.19, with the Price to Sales ratio for NAT stock in the period of the last 12 months amounting to 3.40. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 0.18.

NAT stock trade performance evaluation

Nordic American Tankers Limited [NAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.34. With this latest performance, NAT shares gained by 9.38% in over the last four-week period, additionally plugging by 33.59% over the last 6 months – not to mention a rise of 61.29% 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 62.67, with the RSI for the last a single of trading hit 66.36, and the three-weeks RSI is set at 60.31 for Nordic American Tankers Limited [NAT]. The present Moving Average for the last 50 days of trading for this stock 3.10, while it was recorded at 3.28 for the last single week of trading, and 2.46 for the last 200 days.

Nordic American Tankers Limited [NAT]: An insightful look at the core fundamentals

Nordic American Tankers Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.50.

Nordic American Tankers Limited [NAT]: Insider Ownership positions

There are presently around $279 million, or 30.60% of NAT stock, in the hands of institutional investors. The top three institutional holders of NAT stocks are: BLACKROCK INC. with ownership of 11,429,743, which is approximately 4.994% of the company’s market cap and around 1.90% of the total institutional ownership; MORGAN STANLEY, holding 6,735,827 shares of the stock with an approximate value of $23.57 million in NAT stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $18.33 million in NAT stock with ownership of nearly 91.851% of the company’s market capitalization.

108 institutional holders increased their position in Nordic American Tankers Limited [NYSE:NAT] by around 23,205,747 shares. Additionally, 47 investors decreased positions by around 8,034,140 shares, while 30 investors held positions by with 48,364,187 shares. The mentioned changes placed institutional holdings at 79,604,074 shares, according to the latest SEC report filing. NAT stock had 37 new institutional investments in for a total of 10,816,986 shares, while 15 institutional investors sold positions of 1,211,545 shares during the same period.


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