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Nordic American Tankers Limited (NAT)

New York Stock Exchange Consolidated Issue - New York Stock Exchange Consolidated Issue Delayed Price. Currency in USD
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4.60-0.04 (-0.86%)
At close: 4:00PM EDT
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  • t
    tony
    tony
    Stocks don't drop 60% in less than 1 year, if they do something is definitely wrong.
  • A
    Ag
    Ag
    Compass Maritime Services in their August 18, 2017 Market Report lists the following Suezmax prices: 54M-NB, 40M-5yr, 26M-10yr & 11M-20yr.

    NAT's fleet consists of the following Suezmaxes:
    0yr (3 ships) $162M
    0.5yr (1 ship) 52.6
    1.5yr (1 ship) 49.8
    6.5yr (2 ships) 71.6
    7.5yr (3 ships) 99
    12.5yr (3 ships) 69
    13.5yr (2 ships) 43
    14.5yr (3 ships) 60
    15.5yr (4 ships) 74
    17.5yr (1 ship) 15.5
    18.5yr (2 ships) 28
    19.5yr (4 ships) 50
    20.5yr (4 ships) 40

    For a total actual market value of $814M for the ships.

    Their 2Q 2017 balance sheet lists:
    1,291M total assets (1083M is vessels)
    479M total liabilities
    812M owner's equity

    If you decreased the carrying value of the vessels by the 269M that they are above the market price, the actual owner's equity is decreased from 812 reported to 543 actual. With the market capitalization of 509, NAT is trading 6.3% below book value. This values all of their experience, all of their customer relationships, and all future upside potential as less than $0. It actually values it as -$34M, since the market cap is less than the actual owner's equity.

    5 year-old suezmax have varied in price from $38 -72M over the past decade, and now they are trading at $40M.

    Given that ship prices and spot prices are near the lows of the past 10 years, why would a short not cover? $5 is going to look like a very low price in the coming years.

    Disclosure: Very long
  • W
    Werner54739
    Werner54739
    Once the offering takes place, the price will move a lot lower. You could this from a mile away.
  • m
    mickey
    mickey
    Anybody. Would you buy here or wait?The
  • F
    Frank
    Frank
    How LOW is this stock going ? ? ?
  • L
    Larry
    Larry
    Has the most recent .10 dividend been paid out ??????
  • a
    alanrichrd
    alanrichrd
    Ag, you've counted three ships that won't be delivered until 2018, and are not part of the ships asset. What they've paid so far for those ships is listed under the next line on the balance sheet...deposits for ships. You need to deduct $162 million from your value for ships. That cuts your actual to 361 million, vs. market cap of 509 on the day you wrote this (I didn't go back and recalculate). Per these adjusted numbers, NAT is 41% over book value, not 6.3% under.
  • M
    Mark
    Mark
    Maybe Herb and Alexander will announce another share purchase.
  • V
    Vincent
    Vincent
    Herb making investors poorer every day.
  • V
    Vincent
    Vincent
    Herb making investors rich yet?
  • B
    B
    B
    $5.45 to $4.8 in 24 hrs, %15 down, with no company news.
    Someone knows something which I do not know.
  • S
    StevenB
    StevenB
    Holy Dogsh1t Batman!! who ran this company into the ground?
  • V
    Vincent
    Vincent
    Heading back to Friday's low wonder if it can rally back again.
  • A
    Anonymous
    Anonymous
    Hello All
    WHY is NAT price up today--are traders covering their short selling or what ???
  • W
    Werner54739
    Werner54739
    Daily bleed begins. Sorry this management is weak especially Herb. His Pom Poms must be worn out by now. I will send some at no charge. He must continue his cheerleading.
  • R
    Richard
    Richard
    If the real NAV of NAT is about $2.90 as someone said, as a very poorly run company NAT should trade at a discount to that - probably between $2 and $2.50. Some other, much better run companies, trade at a similar discount. NAT should get the biggest discount based on poor management.
  • M
    MARK
    MARK
    MERGE,MERGE,MERGE with somebody!
  • B
    Buddy
    Buddy
    circling the drain
  • l
    lou
    lou
    maybe nat will hit the nao stock price

    little over 1.2
  • V
    Vincent
    Vincent
    $5 is gone