Nordic American Tankers Limited (NYSE: NAT) stock fell -4.49% on Tuesday to $3.83 against a previous-day closing price of $4.01. With 5.84 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.28 million shares. During the session, the Marine Shipping company that operates in wider Industrials sector, reached to the highest price of $4.1500 whereas the lowest price it dropped to was $3.8100. The 52-week range on NAT shows that it touched its highest point at $4.65 and its lowest point at $1.80 during that stretch. It currently has a 1-year price target of $4.64. With its current market cap of 778.10 million, NAT has annualized dividend of $0.26 while the current yield stands at 6.79%. Beta for the stock currently stands at 0.07.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NAT was up-trending over the past week, with a rise of 6.09%, but this was up by 1.59% over a month. Three-month performance surged to 5.51% while six-month performance rose 5.51%. The stock gained 43.45% in the past year, while it has gained 25.16% so far this year. A look at the trailing 12-month EPS for NAT yields 0.07 with Next year EPS estimates of 0.68. For the next quarter, that number is 0.20. This implies an EPS growth rate of 107.10% for this year and 2.27% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 15.30%.
Float and Shares Shorts:
At present, 209.01 million NAT shares are outstanding with a float of 203.06 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.05 million, which was 3.38% higher than short shares on Mar 30, 2023. In addition to Mr. Herbjorn Hansson as the firm’s Founder, Chairman, Pres & CEO, Mr. Bjorn Giaever serves as its Exec. VP, CFO & Sec.
Institutional Ownership:
Other institutions hold 28.58% of NAT, in contrast to 13.48% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in NAT with 4.79% of the stake, BlackRock Fund Advisors holds 9,997,124 shares worth 9,997,124. A second-largest stockholder of NAT, Millennium Management LLC, holds 7,464,144 shares, controlling over 3.58% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in NAT, holding 6,327,573 shares or 3.03% stake. With a 2.07% stake in NAT, the iShares Russell 2000 ETF is the largest stakeholder. A total of 4,327,862 shares are owned by the mutual fund manager. The Allspring Special Small Cap Value, which owns about 1.53% of NAT stock, is the second-largest Mutual Fund holder. It holds 3,190,911 shares valued at 11.26 million. iShares Russell 2000 Value ETF holds 1.00% of the stake in NAT, owning 2,083,111 shares worth 7.35 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, NAT reported revenue of $34.75M and operating income of $1.79M. The EBITDA in the recently reported quarter was $1.55M and diluted EPS was -$0.02.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NAT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NAT analysts setting a high price target of $5.50 and a low target of $4.00, the average target price over the next 12 months is $4.76. Based on these targets, NAT could surge 43.6% to reach the target high and rise by 4.44% to reach the target low. Reaching the average price target will result in a growth of 24.28% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
