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Sunday, July 3, 2022

Why Did The Nordic American Tankers (NAT) Stock Jump This Session?

Nordic American Tankers Limited (NAT) has advanced 7.01% at $2.36 in the current market on the last check Tuesday. The stock of Nordic American Tankers (NAT) completed the previous trading session at $2.21. The price range of the company’s shares was between $2.16 and $2.36. It traded 4.75 million shares, which was above its daily average of 3.44 million shares over 100 days. NAT shares have gained by 22.78% in the last five days, while they have lost -2.64% in the last month. The company has a current dividend yield of 2.71%. NAT stock is rising after extensive insider trades by one of its board members.

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Which insider has been purchasing NAT shares?

Working as a big hauler organization, Nordic American Tankers (NAT) gains, and contracts twofold frame big haulers in Bermuda and globally. NAT works an armada of 25 Suezmax unrefined petroleum big haulers. The organization was previously known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011. NAT was consolidated in 1995 and is situated in Hamilton, Bermuda.

Last week, Alexander Hansson, a board member of Nordic American Tankers (NAT) and the son of the company’s founder, chairman, and CEO, Herbjorn Hansson, purchased 100,000 shares for $ 1.9841 per share.

  • As a consequence of this purchase, Alexander Hansson now holds 1,635,000 shares in NAT on a private basis.
  • He also recently purchased 250,000 shares on February 28th and 100,000 shares on March 23rd.
  • As previously indicated, the Hansson family is the largest private investment group in Nordic American Tankers.
  • Furthermore, NAT recently proposed Ms. Jenny Chu to its board of directors.
  • Jenny Chu has vast experience in the financial markets of the United States and has known Nordic American Tankers for many years.
  • The greater part of NAT’s ships are underlying South Korea and its 1,000,000 barrel Suezmaxes routinely call South Korean ports.
  • Jenny Chu, who is an American resident, living in Los Angeles, communicates in Korean and her network in South Korea has been truly significant for NAT as the years progressed.
  • The experience of Jenny Chu with her insight into NAT, capital business sectors, and Asia is significant.
  • In equal Dallas based Doug Penick will pass on the board to concentrate on other business.

Current composition of NAT’s board

Following these changes, there are two US residents on the Nordic American Tankers (NAT) board, James Kelly and Jenny Chu, one Norwegian based, Herbjorn Hansson, and Alexander Hansson, the head of NAT’s Monaco activity.

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