The stock of Nordic American Tankers Limited (NYSE:NAT) has been Initiated to Buy by B. Riley FBR in its latest research note that was published on November 09. NAT was given a price target of $4.25, with other Wall Street analysts also giving their reports regarding the stock. Jefferies analysts bumped their recommendation on NAT stock from Underperform to Hold in a separate flash note to investors on December 14. Analysts at Maxim Group are sticking to their Sell recommendation. However, on December 14, they lifted target price for these shares to $2 from $3.Analysts at Maxim Group, made their first call for the stock with a Sell rating, according to a research note that dated back to December 14.
Nordic American Tankers Limited, which has current market capitalization of above $292 Million, published its last quarter earnings on June 30, 2019.
NAT surged by $0.12 during the normal trading session on Thursday and reaching a high of $2.10 during the day while it closed the day at $2.00. The Nordic stock had a high trading volume of 1.53 million shares on that day, which is high compared to the average daily volume of 1.01M shares. NAT has also gained 9.29% of its value over the past 7 days. However, the stock has declined by 12.66% in the 3 months of the year. Over the past six months meanwhile, it has lost 4.76% while it has lost 0.00% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -17.7% from its 3 months high price. However, taking another look at NAT will indicate that it is trading +20.48% away from its 90-day low. Looking at the bigger picture, the Nordic American Tankers Limited stock has dropped by -42.36% from its 52-week high while it has surged by +20.48% from its 52-week low price.
Nordic has around 49 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $39 Billion. The Nordic stock is bringing in revenue of over 12 months, which is roughly 31 Billion. Despite all that, Nordic American Tankers Limited is seeing things progressing very much as their y-o-y quarterly revenue surged by 13.50%.
Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 44.16%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 77.27%. Over the past 20 days, Nordic’s Stochastic %K stood at 78.91% while its Stochastic %D was revealed to be 64.14%.