Taking into account all relevant factors, Nordic American Tankers Limited (NYSE:NAT) scores 80% Buy on the technical side. The share price is also flashing a Hold from the Barchart TrendSpotter trading system. Investors starting out on a short-term path of investing should know that short terms indicators for NAT averaged 50% Buy with an average daily trading volume over the past 20 days at 3427050 shares. Those using medium-term investment strategies, the shares have overall a 1% Buy signal while the 50-day average daily volume remained almost 2888332 shares. It’s also important to note that the stock, whose average daily volume over the 100 days as of this piece was 3234280 shares, is signaling100% Buy for long term investors.
The stock is lingering around the initial support level of $4.2. After this, the following support is at the zone of $3.98. Up until the time the NAT stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 46.95 on the daily chart, and this may be a cause for concern. In case the price goes below $3.98 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $4.56 level may cause a pull-back move approaching $4.7 mark.
Nordic American Tankers Limited (NAT) is most likely going to rise 32.58 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $8 as 12-month high price target. This represents a whopping 79.78 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $4.4, which means a return possibility of -1.12 percent in comparison with the closing price of the stock of $4.45 in recent trading session. The lowest price set for the stock is $3.5 which is just above -21.35 percent from NAT share’s price at the end of session.
In the recent trading session, Nordic American Tankers Limited (NYSE:NAT) shares gained 0.56% or 0.02 points to reach at $4.45 with a thin trading volume of 1.015 million shares. It opened the trading session at $4.47, the shares rose to $4.47 and dropped to $4.11, the range by which the price of stock traded the whole session. The company now has a market cap of $677 million and currently has 152.73 million outstanding shares. Nordic American Tankers Limited (NAT) stock has accumulated 8.85 percent of market value in 21 trading days.
Stock analysts at Evercore ISI upped their rating on shares of Nordic American Tankers Limited (NYSE:NAT) from Underperform to a new rating of In-line in their opinion released on October 18. BTIG Research analysts bumped their recommendation on NAT stock from prior rating of Neutral to Buy in a separate flash note to investors on October 08.
NAT stock’s trailing 3-year beta is 0.88, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.24 share in the trailing 52 weeks. The stock’s value fallen -9.96 percent year to date (YTD) compared to a rise of 112.98 percent in 52 week’s period. The firm’s shares are still trading -15.63 percent below its 1-year high of $5.28 and 168.37 percent up from 52-week low of $1.66. The average consensus ranking on the company is 2.3, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.
Nordic American Tankers Limited (NAT) shares are trading at a P/E ratio of -19.71 times earnings posted in the trailing 12 months. The industry NAT deals with has an average P/E of 30.1. Its P/B ratio is standing at 1.16X compared to the 1.3 industry average. It is additionally sporting a 1.92 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.27. Nordic American Tankers Limited has a 59.1% gross profit margin.
Past records have indicated that shares in Nordic American Tankers Limited rose on 28 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of NAT’s Q4 earnings on February 04. Analysts are predicting revenue to climb 65.8 percent to $73.28M in the financial fourth quarter, while EPS will soar by about -500 percent to $0.2 per share. In the last quarter, it’s earnings of $0.04 per share came better than the -$0.01, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $44.19M, missing the $50.29M analysts had expected. Earnings are seen to rise by 66 percent this year, 1932.35 percent in the coming year and the trend continues by 5 percent every year in the next 5 years.