$NAT Picking Up Steam But Can It Go The Distance
I try not to be negative on these stocks but you can't ignore historic levels. Right now, NAT is back in the "gap zone" from back in 2017. Every time shares entered this "Bermuda gap," the gains have continued to disappear. Will it be different this time around?
"NAT has been benefiting from the rise in most tanker stocks recently. The company has been benefiting from a strong year in 2019 compared to its 2018 year.For instance, its time charter equivalent in the first half of 2018 was $10,850/day. The first half of this year showed $20,414 per day per ship. The company also stated that “there are several indicators that the tanker market is going up. The most obvious can be seen in the {…} year-on-year numbers.” *
ABOUT NAT:
Nordic American Tankers Ltd owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It currently operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. The company's fleet consists of crude oil tankers, and all of its vessels are employed in the spot market. The company has identified only one operating segment. The company has only one type of vessel - Suezmax crude oil tankers. It operates in markets that are very competitive and based mainly on supply and demand. It competes for charters on the basis of price, vessel location, size, age and condition of the vessel, as well as on its reputation as an operator.
*Quote Source: 2 Penny Stocks Hit New 2019 Highs This Week; Can They Move Higher?
"NAT has been benefiting from the rise in most tanker stocks recently. The company has been benefiting from a strong year in 2019 compared to its 2018 year.For instance, its time charter equivalent in the first half of 2018 was $10,850/day. The first half of this year showed $20,414 per day per ship. The company also stated that “there are several indicators that the tanker market is going up. The most obvious can be seen in the {…} year-on-year numbers.” *
ABOUT NAT:
Nordic American Tankers Ltd owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It currently operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. The company's fleet consists of crude oil tankers, and all of its vessels are employed in the spot market. The company has identified only one operating segment. The company has only one type of vessel - Suezmax crude oil tankers. It operates in markets that are very competitive and based mainly on supply and demand. It competes for charters on the basis of price, vessel location, size, age and condition of the vessel, as well as on its reputation as an operator.
*Quote Source: 2 Penny Stocks Hit New 2019 Highs This Week; Can They Move Higher?