Nordic American Tankers Limited [NAT] moved down -2.68: Why It’s Important

Nordic American Tankers Limited [NYSE: NAT] closed the trading session at $2.90 on 01/04/23. The day’s price range saw the stock hit a low of $2.825, while the highest price level was $2.96. The company report on January 4, 2023 that Nordic American Tankers Ltd (NYSE: NAT) – Some reflections at the start of the New Year.

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Wednesday, January 4, 2023.

The stocks have a year to date performance of -5.23 percent and weekly performance of -8.23 percent. The stock has been moved at 55.91 percent over the last six months. The stock has performed -22.67 percent around the most recent 30 days and changed 8.21 percent over the most recent 3-months.

If compared to the average trading volume of 4.41M shares, NAT reached to a volume of 3957373 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 2.47. The Price to Book ratio for the last quarter was 1.17, 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] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.23. With this latest performance, NAT shares dropped by -22.67% in over the last four-week period, additionally plugging by 55.91% over the last 6 months – not to mention a rise of 49.48% 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 36.16, with the RSI for the last a single of trading hit 28.81, and the three-weeks RSI is set at 40.76 for Nordic American Tankers Limited [NAT]. The present Moving Average for the last 50 days of trading for this stock 3.32, while it was recorded at 3.00 for the last single week of trading, and 2.72 for the last 200 days.

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

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 1.50 and a Current Ratio set at 1.80.

Nordic American Tankers Limited [NAT]: Insider Ownership positions

There are presently around $231 million, or 38.10% 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 $19.53 million in NAT stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $15.19 million in NAT stock with ownership of nearly 91.851% of the company’s market capitalization.

Positions in Nordic American Tankers Limited stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 106 institutional holders increased their position in Nordic American Tankers Limited [NYSE:NAT] by around 23,196,869 shares. Additionally, 48 investors decreased positions by around 8,043,511 shares, while 28 investors held positions by with 48,342,863 shares. The mentioned changes placed institutional holdings at 79,583,243 shares, according to the latest SEC report filing. NAT stock had 36 new institutional investments in for a total of 10,815,986 shares, while 15 institutional investors sold positions of 1,211,545 shares during the same period.


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