Nordic American Tankers Limited (NYSE:NAT) Given a $4.00 Price Target by Maxim Group Analysts
Nordic American Tankers Limited (NYSE:NAT) received a $4.00 price target from research analysts at Maxim Group in a report released on Monday. The brokerage currently has a “sell” rating on the shipping company’s stock. Maxim Group’s target price indicates a potential downside of 29.95% from the company’s current price.
Several other equities analysts have also issued reports on NAT. Zacks Investment Research lowered Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Jefferies Group LLC reiterated a “sell” rating and issued a $5.00 price objective (down previously from $7.00) on shares of Nordic American Tankers Limited in a report on Monday, May 8th. Finally, Vetr cut Nordic American Tankers Limited from a “strong-buy” rating to a “buy” rating and set a $7.08 price objective for the company. in a report on Monday, May 8th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.93.
Nordic American Tankers Limited (NAT) traded down 1.05% during trading on Monday, hitting $5.65. The company had a trading volume of 658,518 shares. The stock’s market capitalization is $576.12 million. Nordic American Tankers Limited has a 1-year low of $5.47 and a 1-year high of $12.52. The company’s 50 day moving average price is $6.10 and its 200-day moving average price is $7.40.
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A number of large investors have recently added to or reduced their stakes in NAT. State Street Corp boosted its stake in Nordic American Tankers Limited by 12.3% in the fourth quarter. State Street Corp now owns 1,624,244 shares of the shipping company’s stock valued at $13,646,000 after buying an additional 177,465 shares during the period. Norges Bank acquired a new stake in Nordic American Tankers Limited during the fourth quarter valued at $5,608,000. Teachers Advisors LLC boosted its stake in Nordic American Tankers Limited by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 164,120 shares of the shipping company’s stock valued at $1,379,000 after buying an additional 20,862 shares during the period. Greylin Investment Mangement Inc. boosted its stake in Nordic American Tankers Limited by 1.9% in the first quarter. Greylin Investment Mangement Inc. now owns 194,225 shares of the shipping company’s stock valued at $1,589,000 after buying an additional 3,600 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Nordic American Tankers Limited by 0.8% in the first quarter. Nationwide Fund Advisors now owns 58,327 shares of the shipping company’s stock valued at $477,000 after buying an additional 469 shares during the period. Institutional investors and hedge funds own 27.02% of the company’s stock.
Nordic American Tankers Limited Company Profile
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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