Nordic American Tankers Limited (NYSE:NAT) is among the top losers of the stock market today, sinking -2.7% or (-0.1 points) to $3.42 from its previous close of $3.52. 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 679565 contracts so far this session. NAT shares had a relatively better volume day versus average trading capacity of 2.95 million shares, but with a 0.14 billion float and a 6.34% 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 $6.26 per share. This means the stock has a potential increase of 83.04% from where the NAT share price has been trading recently.
During the recent trading session for Nordic American Tankers Limited (NYSE:NAT), the company witnessed their stock rise $0.16 over a week and tumble down $-1.05 from the price 20 days ago. When compared to their established 52-week high of $5.28, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 08/01/20. The recent low of $1.66 stood for a -35.13% since 03/09/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.92 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 37.43. 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 30.28% at this stage. This figure means that NAT share price today is being neutral.
Technical chart claims that Nordic American Tankers Limited (NAT) would settle between $3.59/share to $3.67/share level. However, if the stock price goes below the $3.46 mark, then the market for Nordic American Tankers Limited becomes much weaker. If that happens, the stock price might even plunge as low as $3.41 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.09. 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 Evercore ISI raised their recommendation on shares of NAT from Underperform to In-line in their opinion released on October 18. BTIG Research analysts bumped their rating on Nordic American Tankers Limited (NYSE:NAT) stock from Neutral to Buy in a separate flash note issued to investors on October 08. Analysts at B. Riley FBR, made their first call for the equity with a Buy recommendation, according to a research note that dated back to November 09.
NAT equity has an average rating of 2.29, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Nordic American Tankers Limited (NYSE:NAT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Nordic American Tankers Limited (NAT)’s current-quarter revenues are projected to climb by nearly 68% to hit $74.25 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 54% from $124000 to a noteworthy $190940. At the other end of the current quarter income statement, Nordic American Tankers Limited is expected to see its adjusted earnings surge by roughly 500% to hit $0.2 per share. For the fiscal year, NAT’s earnings are projected to climb by roughly 107.7% to hit $0.04 per share.