A Technical View of the Nordic American Tankers Limited (NAT)

0
1

Nordic American Tankers Limited (NYSE:NAT) remained unchanged to close Tuesday at $2.96 after subtracting $0.0 on the day. The 5-day average trading volume is 2,786,700 shares of the company’s common stock. It has gained $3.31 in the past week and touched a new high 1 time within the past 5 days. An average of 2,654,140 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,924,234.

NAT’s 1-month performance is -8.07% or -$0.22 on its low of $2.83 reached on 01/04/23. The company’s shares have touched a 52-week low of $1.40 and high of $3.94, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, NAT has lost -3.27% or -$0.10 and has reached a new high 4 times. However, the current price is down -24.87% from the 52-week high price.


Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.

Sponsored


Valuation Metrics

NAT stock has a beta of 0.27. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.57 while the price-to-book (PB) in the most recent quarter is 1.19.

Nordic American Tankers Limited’s quick ratio for the period ended June 29 was 1.50, with the current ratio over the same period at 1.80. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.56, while the total debt to equity was 0.65.. In terms of profitability, the gross margin trailing 12 months is 21.00%. The firm’s gross profit as reported stood at -$4.86 million against revenue of $191.07 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 129.2% to -$171.33 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected NAT to announce -$0.02 per share in earnings in its latest quarter, but it posted -$0.02, representing a 0.00% surprise. EBITDA for the quarter stood at more than $17.14 million. NAT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 368.12 million, with total debt at $356.27 million.

Let’s look briefly at Nordic American Tankers Limited (NAT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 40.32% to suggest the stock is trending Neutral, with historical volatility in this time period at 38.54%.

The stock’s 5-day moving average is $3.03, reflecting a -8.07% or -$0.26 change from its current price. NAT is currently trading -6.62% above its 20-day SMA, +22.82% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -7.50% and SMA200 by+17.93%.

Stochastic %K and %D was 31.60% and 40.16% and the average true range (ATR) pointed at 0.13. The RSI (14) points at 42.40%, while the 14-day stochastic is at 28.12% with the period’s ATR at 0.15. The stock’s 9-day MACD Oscillator is pointing at -0.08 and -0.04 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Nordic American Tankers Limited (NYSE: NAT), Jefferies upgraded it to a Buy rating. They previously had a Hold rating on the stock.

LEAVE A REPLY

Please enter your comment!
Please enter your name here