Nordic American Tankers Ltd (NYSE:NAT) finished Friday with an addition of $0.07 to close at $4.12, an upside of 1.73 percent. An average of 2,639,480 shares of common stock have been traded in the last five days. There was a gain of $0.17 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 2,837,025 shares traded, while the 50-day average volume stands at 2,796,416.
NAT stock has increased by 2.74% in the last month. The company shares reached their 1-month lowest point of $3.69 on 09/13/23. With the stock rallying to its 52-week high on 03/08/23, shares of the company touched a low of $2.47 and a high of $4.65 in 52 weeks. It has reached a new high 20 times so far this year and achieved 34.64% or $1.06 in price. In spite of this, the price is down -11.40% from the 52-week high.
Valuation Metrics
Nordic American Tankers Ltd (NAT) has a trailing price-to-earnings (P/E) ratio of 7.21. The stock’s beta is 0.15. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.17, the price-to-book (PB) ratio at 1.56, and the price-to-cash flow ratio at 6.55.
The company has a payout ratio of 157.14%. The company’s most recent quarterly dividend payment was $0.13 a share, representing a down of -13.33% from $0.15 last year. Its latest decrease dividend $0.02 reported on Monday August 28 2023.
Financial Health
The quick ratio of Nordic American Tankers Ltd for the three months ended June 29 was 0.80, and the current ratio was 0.99, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.29 and a total debt to equity ratio of 0.50 for the quarter ending June 29. Its gross profit as reported stood at $105.39 million compared to revenue of $339.34 million.
Earnings Surprise
For the three-month period that ended June 29, Nordic American Tankers Ltd had $266.34 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $15.1 million in the quarter, while revenues were grew 1234.64%. The analyst consensus anticipated Nordic American Tankers Ltd’s latest quarter earnings to come in at $0.13 per share, but it turned out to be $0.13, a 0.00% surprise. For the quarter, EBITDA amounted to $34.15 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Nordic American Tankers Ltd (NAT) price momentum. RSI 9-day as of the close on 29 September was 68.16%, suggesting the stock is Neutral, with historical volatility in this time frame at 15.91%.
As of today, NAT’s price is $4.03 +4.30% or $0.17 from its 5-day moving average. NAT is currently trading +5.37% higher than its 20-day SMA and +20.12% higher than its 100-day SMA. However, the stock’s current price level is +8.99% above the SMA50 and +18.73% above the SMA200.
The stochastic %K and %D were 90.83% and 86.95%, respectively, and the average true range (ATR) was 0.12. With the 14-day stochastic at 100.00% and the average true range at 0.12, the RSI (14) stands at 60.18%. The stock has reached 0.09 on the 9-day MACD Oscillator while the 14-day reading was at 0.15.
Analyst Ratings
Jefferies upgraded Nordic American Tankers Ltd (NYSE: NAT) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for Nordic American Tankers Ltd (NAT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NAT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.
What is NAT’s price target for the next 12 months?
Analysts predict a range of price targets between $4.00 and $6.00, with a median target of $4.80. Taking a look at these predictions, the average price target given by analysts for Nordic American Tankers Ltd (NAT) stock is $5.02.
