Dimensional Fund Advisors LP has recently announced that it has increased stake in Nordic American Tankers Ltd (NYSE:NAT) by 24.78%. After grabbing 10.13 million shares, the institutional investor is now in possession of 2.01 million shares of the Industrials Company. The new investment brought the stake of investor firm to 4.85% having worth around $39.32 million. Moreover, BlackRock Fund Advisors increased its share by 17144.0 to have a control over 10.08 million shares. And Goldman Sachs Asset Management LP raised its holdings to 0.16 million shares by acquiring 4.65 million shares or 2.23% of the stake.
Nordic American Tankers Ltd (NAT) concluded trading on 01/03/24 at a closing price of $4.46, with 5.08 million shares of worth about $22.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 19.25% during that period and on Wednesday the price saw a gain of about 3.96%. Currently the company’s common shares owned by public are about 208.80M shares, out of which, 202.49M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the NAT stock and their offered price forecasts bring an average price target of $5.37. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $6.00 and could fall to a lowest price of $4.50. The stock’s current price level is 16.95% above of average price target set by the analysts, while a rise to estimated low would result in gain of 0.89% for the stock. However, touching the estimated high of $6.00 would mean a gain of 25.67% for the stock.
iShares Russell 2000 ETF, Allspring Special Small Cap Value, and iShares Russell 2000 Value ETF are the top 3 mutual funds which are holding stakes in Nordic American Tankers Ltd iShares Russell 2000 ETF is currently holding 4.93 million shares of worth totaling $19.12 million. The company recently came buying 2424.0 shares which brought its stake up to 2.36% of the company’s outstanding shares. iShares Russell 2000 Value ETF, after buying 1.94 million shares, have now control over 0.93% of the stake in the company. It holds 0.0 shares of worth $7.51 million.
Nordic American Tankers Ltd (NYSE: NAT) started trading at $4.32, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 4.4900, or with a gain of 3.96%. Stock saw a price change of 2.29% in past 5 days and over the past one month there was a price change of 9.85%. Year-to-date (YTD), NAT shares are showing a performance of 6.19% which increased to 45.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.83 but also hit the highest price of $4.83 during that period. The average intraday trading volume for Nordic American Tankers Ltd shares is 3.37 million. The stock is currently trading 8.58% above its 20-day simple moving average (SMA20), while that difference is up 3.60% for SMA50 and it goes to 12.68% higher than SMA200.
Dimensional Fund Advisors LP acquired 10.13 million shares of Nordic American Tankers Ltd having value of about $39.32 million. Data submitted at the U.S SEC by Dimensional Fund Advisors LP revealed that the firm now holds 2.01 million shares in the company valued at close to $8974911.52, or have control over 24.78% stake in the company. Nordic American Tankers Ltd (NYSE: NAT) currently have 208.80M outstanding shares and institutions hold larger chunk of about 44.76% of that. Holding of mutual funds in the company is about 19.53% while other institutional holders and individual stake holders have control over 25.19% and — of the stake respectively.
The stock has a current market capitalization of $931.25M and its 3Y-monthly beta is at -0.06. PE ratio of stock for trailing 12 months is 7.98, while it has posted earnings per share of $0.56 in the same period. Its PEG reads 1.60 and has Quick Ratio of 1.41 while making debt-to-equity ratio of 0.48. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NAT, volatility over the week remained 2.92% while standing at 3.56% over the month.
Analysts are in expectations that Nordic American Tankers Ltd (NAT) stock would likely to be making an EPS of $0.04 in the current quarter, while forecast for next quarter EPS is $0.14 and it is $0.59 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.03 which is $0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 769.60% while it is estimated to increase by 13.20% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Nordic American Tankers Ltd (NAT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.33. Out of those 6 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on September 06, 2022 offering a Buy rating for the stock and assigned a target price range of between $3 and $4 to it.
