Nordic American Tankers Limited (NYSE:NAT) closed Tuesday at $2.57 per share, up from $2.52 a day earlier. While Nordic American Tankers Limited has overperformed by 1.98%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NAT rose by 0.78%, with highs and lows ranging from $3.35 to $1.40, whereas the simple moving average jumped by 22.74% in the last 200 days.
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On July 21, 2022, Jefferies started tracking Nordic American Tankers Limited (NYSE: NAT) recommending Hold. H.C. Wainwright Initiated an Neutral rating on March 29, 2021, and assigned a price target of $3.75. Evercore ISI May 04, 2020d its ‘In-line’ rating to ‘Underperform’ for NAT, as published in its report on May 04, 2020. Evercore ISI’s report from October 18, 2019 suggests a price prediction of $4 for NAT shares, giving the stock a ‘In-line’ rating. BTIG Research also rated the stock as ‘Buy’.
Analysis of Nordic American Tankers Limited (NAT)
The current dividend for NAT investors is set at $0.05 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter decrease in sales is -67.70%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Nordic American Tankers Limited’s future performance, with equity being one of the most critical indicators. Taking into account the quick ratio of the company, currently set at 1.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and NAT is recording an average volume of 6.12M. On a monthly basis, the volatility of the stock is set at 6.76%, whereas on a weekly basis, it is put at 6.70%, with a gain of 4.05% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.98, showing growth from the present price of $2.57, which can serve as yet another indication of whether NAT is worth investing in or should be passed over.
How Do You Analyze Nordic American Tankers Limited Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 28.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in NAT shares?
The recent increase in stakes in NAT appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in NAT has increased by 2.84% in the first quarter. The company now owns 8,205,994 shares of the stock, with a value of $17.48 million, following the purchase of 226,399 additional shares during the last quarter. Allspring Global Investments LLC made another increased to its shares in NAT during the first quarter, upping its stake by 2.79%. During the last quarter, the company picked up 141,801 additional shares for a total stake of worth $11.11 million, bringing number of shares owned by the company to 5,217,696.
During the first quarter, Morgan Stanley Smith Barney LLC added a 523,987 position in NAT. Millennium Management LLC sold an additional -2.4 million shares in the last quarter, decreasing its holdings by -39.91%, now holding 3.62 million shares worth $7.71 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its NAT holdings by 23.92% and now holds 3.36 million NAT shares valued at $7.16 million with the added 0.65 million shares during the period. NAT shares are owned by institutional investors to the tune of 28.80% at present.