why Nordic American Tankers Limited [NAT] is a Good Choice for Investors After New Price Target of $4.46

Nordic American Tankers Limited [NYSE: NAT] slipped around -0.22 points on Wednesday, while shares priced at $3.87 at the close of the session, down -5.38%. The company report on March 9, 2023 that Nordic American Tankers Ltd (NYSE: NAT) – Investor Conference Call audio replay and transcript available.

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Nordic American Tankers Limited stock is now 26.47% up from its year-to-date (YTD) trading value. NAT Stock saw the intraday high of $4.01 and lowest of $3.78 per share. The company’s 52-week high price is 4.65, which means current price is +36.99% above from all time high which was touched on 03/08/23.

Compared to the average trading volume of 3.43M shares, NAT reached a trading volume of 4068548 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 0.23, with the Price to Sales ratio for NAT stock in the period of the last 12 months amounting to 3.38. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 0.17.

How has NAT stock performed recently?

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 -14.00. With this latest performance, NAT shares gained by 9.63% in over the last four-week period, additionally plugging by 19.81% over the last 6 months – not to mention a rise of 101.56% 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 47.92, with the RSI for the last a single of trading hit 40.64, and the three-weeks RSI is set at 51.71 for Nordic American Tankers Limited [NAT]. The present Moving Average for the last 50 days of trading for this stock 3.50, while it was recorded at 4.08 for the last single week of trading, and 2.98 for the last 200 days.

Nordic American Tankers Limited [NAT]: Deeper insight into the fundamentals

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.

Insider trade positions for Nordic American Tankers Limited [NAT]

There are presently around $340 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 12,157,361, which is approximately 6.366% of the company’s market cap and around 1.90% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 7,464,144 shares of the stock with an approximate value of $28.89 million in NAT stocks shares; and MORGAN STANLEY, currently with $26.29 million in NAT stock with ownership of nearly 0.848% of the company’s market capitalization.

109 institutional holders increased their position in Nordic American Tankers Limited [NYSE:NAT] by around 17,786,448 shares. Additionally, 69 investors decreased positions by around 9,211,377 shares, while 27 investors held positions by with 60,842,782 shares. The mentioned changes placed institutional holdings at 87,840,607 shares, according to the latest SEC report filing. NAT stock had 41 new institutional investments in for a total of 6,085,426 shares, while 17 institutional investors sold positions of 3,355,275 shares during the same period.


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