Why Nordic American Tankers Limited (NAT) Stock is Downtrending Strong (0%) Today

What just happened? Nordic American Tankers Limited (NYSE:NAT) stock value has plummeted by nearly 0% or (0 points) to $2.4 from its previous close of $2.4. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 0 contracts so far this session. NAT shares had a relatively better volume day versus average trading capacity of 1.27 million shares, but with a 0.14 billion float and a 12.15% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NAT stock indicates that the average analyst price target is $3.61 per share. This means the stock has a potential increase of 50.42% from where the NAT share price has been trading recently which is between $2.1994 and $2.57. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.25.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Why North American Tankers Stock Surged 17% This Morning” and dated May 15, 2019.

During the recent trading session for Nordic American Tankers Limited (NYSE:NAT), the company witnessed their stock rise $0.29 over a week and surge $0.39 from the price 20 days ago. When compared to their established 52-week high of $3.47, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/11/18. The recent low of $1.81 stood for a -30.84% since 08/02/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.56 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Nordic American Tankers Limited, the two-week RSI stands at 67.77. This figure suggests that NAT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NAT readings is similarly very revealing as it has a stochastic reading of 77.17% at this stage. This figure means that NAT share price today is being oversold.

Technical chart claims that Nordic American Tankers Limited (NAT) would settle between $2.58/share to $2.76/share level. However, if the stock price goes below the $2.21 mark, then the market for Nordic American Tankers Limited becomes much weaker. If that happens, the stock price might even plunge as low as $2.02 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.14. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at B. Riley FBR, assumed coverage of NAT assigning Buy rating, according to their opinion released on November 09. Jefferies analysts bumped their rating on Nordic American Tankers Limited (NYSE:NAT) stock from Underperform to Hold in a separate flash note issued to investors on December 14. Analysts at Maxim Group are sticking to their Sell stance. However, on December 14, they lifted price target for these shares to $2 from $3.

NAT equity has an average rating of 3, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 6 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated Nordic American Tankers Limited (NYSE:NAT) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, NAT stock price is currently trading at 7.38X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.71 while for the average stock in the same group, the multiple is 3.02.

Nordic American Tankers Limited (NAT)’s current-quarter revenues are projected to climb by nearly 45.22% to hit $39.23 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 33.46% from $124000 to a noteworthy $165490. At the other end of the current quarter income statement, Nordic American Tankers Limited is expected to see its adjusted earnings surge by roughly 37.5% to hit $-0.1 per share. For the fiscal year, NAT’s earnings are projected to climb by roughly 70.49% to hit $-0.18 per share.