The stock of Nordic American Tankers Limited (NAT) closed the recent trading session at $2.27, a gain of 2.25% from the previous trading day. On the last check, NAT stock remained bullish in the pre-market, gaining 8.37% to $2.46. The firm issued a letter to its investor on 4 March 2022. The letter talks about the sale of one more vessel. Also, the company filed form 6-K with the SEC on 28 February 2022.
NAT News
Nordic American Tankers Limited (NAT) issued a letter to its investors that talks about the sale of the vessel. The letter stated that NAT instructed the investor concerning their essential proceeds to change their fleet, on 28 July 2021. The company sold “Nordic Sirius” and “Nordic Mistral” in October 2021 and February 2022, respectively. NAT declared to trade one more vessel built-in 2002, to a respectable purchaser. Also, the new proprietors will get them before March concludes. The deals pay off the NAT obligation. In the current unstable times, NAT has advanced its situation through the previously mentioned exchanges. The cost for NAT is about $15 million for every vessel.
This message represents a bustling NAT period. The financing of two new buildings is in order which is assessed to be $90 million. A key and significant exchange including Oman has concurred. Deals of three vessels have been finished up which is assessed to be $45 million.
Financials
Moreover, On 25 February 2022, NAT published the fiscal performance for Q4 and FY21. The main points are
- The total sales in Q4 of FY21 expanded by 38.8% to $22.6 million versus $16.2 million in Q4 of FY2020. Also, the sales for FY2021 declined by 71% to $67.4 million from $233.5 million in FY2020.
- The total loss of $21.04 million in Q4 of FY2021 versus $28.6 million in the same period last year. This marks a decrease of 26.5%. Also, the total loss in FY2021 was $119.4 million against the total income of $50.3 million in FY2020.
- Moreover, loss of $0.12 and $0.73 per stock in Q4 and FY2021, respectively.
