Market Analysts see Nordic American Tankers Ltd [NAT] gaining to $4. Time to buy?

Nordic American Tankers Ltd [NYSE: NAT] traded at a high on Wednesday, posting a 1.47 gain after which it closed the day’ session at $4.14. The company report on February 15, 2024 at 9:39 AM that Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO outlines the international reach of the NAT operations.

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The results of the trading session contributed to over 4160570 shares changing hands. Over the past one week, the price volatility of Nordic American Tankers Ltd stands at 3.47% while the volatility over the past one month is 3.40%.

The market cap for NAT stock reached $864.43 million, with 208.80 million shares outstanding and 202.49 million shares in the current float. Compared to the average trading volume of 3.48M shares, NAT reached a trading volume of 4160570 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 Ltd [NAT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NAT shares is $5.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NAT stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Nordic American Tankers Ltd 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 Ltd 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 Ltd is set at 0.14, with the Price to Sales ratio for NAT stock in the period of the last 12 months amounting to 2.34. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 0.35. Price to Free Cash Flow for NAT in the course of the last twelve months was 5.37 with Quick ratio for the last quarter at 1.41.

How has NAT stock performed recently?

Nordic American Tankers Ltd [NAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.48. With this latest performance, NAT shares dropped by -6.55% in over the last four-week period, additionally plugging by 4.28% over the last 6 months – not to mention a drop of -2.59% 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 45.37, with the RSI for the last a single of trading hit 46.10, and the three-weeks RSI is set at 46.05 for Nordic American Tankers Ltd [NAT]. The present Moving Average for the last 50 days of trading for this stock 4.30, while it was recorded at 4.09 for the last single week of trading, and 4.08 for the last 200 days.

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

Nordic American Tankers Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.41 and a Current Ratio set at 1.81.

Earnings analysis for Nordic American Tankers Ltd [NAT]

With the latest financial reports released by the company, Nordic American Tankers Ltd posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -15.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NAT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nordic American Tankers Ltd go to 5.00%.

Insider trade positions for Nordic American Tankers Ltd [NAT]

The top three institutional holders of NAT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NAT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NAT stock with ownership which is approximately 5.8325%.