Sunday, June 26, 2022

Investing in Nordic American Tankers Limited [NAT]: What You Must Know

PT values the company’s stock at a premium of 16.4 to its Tuesday closing price. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in late May from “an Underperform” to “an In-line”. H.C. Wainwright began covering NAT with a “Neutral” recommendation on March 29, 2021. Evercore ISI revised its rating on May 04, 2020. It rated NAT as “an Underperform” which previously was an “an In-line”.


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Price Performance Review of NAT

On Tuesday, Nordic American Tankers Limited [NYSE:NAT] saw its stock jump 10.58% to $2.09. On the same session, the stock had its day’s lowest price of $1.885, but rose to a high of $2.145. Over the last five days, the stock has gained 7.18%. Nordic American Tankers Limited shares have risen nearly 23.67% since the year began. Nevertheless, the stocks have fallen -39.42% over the past one year. While a 52-week high of $3.50 was reached on 04/21/22, a 52-week low of $1.40 was recorded on 02/08/22. SMA at 50 days reached $2.4300, while 200 days put it at $2.1300. A total of 6.01 million shares were traded, compared to the trading of 3.47 million shares in the previous session.

Levels Of Support And Resistance For NAT Stock

The 24-hour chart illustrates a support level at 1.9300, which if violated will result in even more drops to 1.7800. On the upside, there is a resistance level at 2.1900. A further resistance level may holdings at 2.3000. The Relative Strength Index (RSI) on the 14-day chart is 46.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.1000, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.11%. Stochastics %K at 19.26% indicates the stock is a buying.

Nordic American Tankers Limited [NAT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 8,205,994 shares, or roughly 4.07% of the outstanding NAT shares. In other words, the investor’s shares have risen by 226,399 from its previous 13-F filing of 7979595.0. Additionally, Allspring Global Investments LLC increased 0.99% of its stake after which the total value it holdings stand at $10,405,585, while Morgan Stanley Smith Barney LLC added 11.56% of its stake to hold $10.37 million in the firm. Over the last quarter, Millennium Management LLC sold -2,404,102 shares of Nordic American Tankers Limited, while SSgA Funds Management, Inc. sold 648,641 shares. At present, Charles Schwab Investment Managem is holding 2,176,842 shares valued at $4.46 million. Susquehanna Financial Group LLLP owned 2,102,368 shares of the company at the time of its most recent 13F filing, worth $4.31 million.

According to FactSet, Nordic American Tankers Limited’s share price will average $2.97 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.82 percent from its previous closing price of $1.89. Analysts expect Nordic American Tankers Limited stock to reach the higher price of $5.00, while the lowest price estimate is $1.90. However, 3 analysts have rated NAT stock as an Overweight in their predictions for 2022.

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