Monitoring Nordic American Tankers Limited (NAT) after recent insider movements

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Taking this into account, Jefferies upgraded its Nordic American Tankers Limited [NAT] rating to a Buy from a a Hold in a research note published on Tuesday, September 06, 2022; the price target was increased to $4 from $3. PT values the company’s stock at a premium of 26.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in late July with a ‘”a Hold”‘ rating. Evercore ISI revised its rating on May 25, 2021. It rated NAT as “an In-line” which previously was an “an Underperform”.

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Price Performance Review of NAT

On Tuesday, Nordic American Tankers Limited [NYSE:NAT] saw its stock remained unchanged to $2.96. On the same session, the stock had its day’s lowest price of $2.935, but rose to a high of $3.01. Over the last five days, the stock has lost -8.07%. Nordic American Tankers Limited shares have fallen nearly -3.27% since the year began. Nevertheless, the stocks have risen 92.21% over the past one year. While a 52-week high of $3.94 was reached on 01/18/23, a 52-week low of $1.40 was recorded on 01/04/23. SMA at 50 days reached $3.27, while 200 days put it at $2.79. A total of 2.08 million shares were traded, compared to the trading of 3.37 million shares in the previous session.

Levels Of Support And Resistance For NAT Stock

The 24-hour chart illustrates a support level at 2.93, which if violated will result in even more drops to 2.89. On the upside, there is a resistance level at 3.00. A further resistance level may holdings at 3.04. The Relative Strength Index (RSI) on the 14-day chart is 42.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.88%. Stochastics %K at 31.60% indicates the stock is a holding.

How much short interest is there in Nordic American Tankers Limited?

A steep rise in short interest was recorded in Nordic American Tankers Limited stocks on Oct 13, 2022, growing by 1.39 million shares to a total of 10.76 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 9.37 million shares. There was a rise of 12.92%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.30% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.69.

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

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,198,879 shares, or roughly 4.41% of the outstanding NAT shares. In other words, the investor’s shares have risen by 274,215 from its previous 13-F filing of 8924664.0. Additionally, Millennium Management LLC increased 91.85% of its stake after which the total value it holdings stand at $16,028,996, while Allspring Global Investments LLC reduced -12.66% of its stake to hold $13.94 million in the firm. Over the last quarter, Morgan Stanley Smith Barney LLC sold -44,777 shares of Nordic American Tankers Limited, while SSgA Funds Management, Inc. sold -110,004 shares. At present, Two Sigma Investments LP is holding 3,188,485 shares valued at $9.76 million. Teachers Advisors LLC owned 2,790,734 shares of the company at the time of its most recent 13F filing, worth $8.54 million.

According to FactSet, Nordic American Tankers Limited’s share price will average $4.24 in the next year, based on opinions of analysts polled by the firm. This is up nearly 35.14 percent from its previous closing price of $2.96. Analysts expect Nordic American Tankers Limited stock to reach the higher price of $5.00, while the lowest price estimate is $3.70. However, 5 analysts have rated NAT stock as a Buy in their predictions for 2023. The most recent change occurred on March 29, 2021 when H.C. Wainwright began covering the stock and recommended ‘”a Neutral”‘ rating along with a $3.75 price target.

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