Nordic American Tanker (NAT) PT Lowered to $2.00

Nordic American Tanker (NYSE:NAT) had its target price lowered by equities research analysts at Maxim Group from $3.00 to $2.00 in a report released on Thursday, MarketBeat reports. The firm currently has a “sell” rating on the shipping company’s stock. Maxim Group’s price objective suggests a potential downside of 25.09% from the company’s previous close.

A number of other research firms have also recently issued reports on NAT. Zacks Investment Research upgraded shares of Nordic American Tanker from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Morgan Stanley cut their target price on shares of Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Finally, Jefferies Group upgraded shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 target price for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.17.

Nordic American Tanker (NYSE NAT) traded up $0.02 during trading hours on Thursday, hitting $2.67. 5,573,825 shares of the stock were exchanged, compared to its average volume of 1,276,798. Nordic American Tanker has a 52 week low of $2.64 and a 52 week high of $9.39. The company has a quick ratio of 3.87, a current ratio of 4.69 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $270.16, a PE ratio of 91.75 and a beta of 0.88.

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Nordic American Tanker by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after acquiring an additional 4,454 shares during the period. Aperio Group LLC grew its holdings in Nordic American Tanker by 55.2% during the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock worth $142,000 after acquiring an additional 7,994 shares during the period. Sigma Planning Corp grew its holdings in Nordic American Tanker by 44.2% during the 2nd quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock worth $151,000 after acquiring an additional 7,318 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Nordic American Tanker during the 3rd quarter worth $158,000. Finally, Airain ltd grew its holdings in Nordic American Tanker by 79.8% during the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock worth $175,000 after acquiring an additional 12,256 shares during the period. Hedge funds and other institutional investors own 23.68% of the company’s stock.

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About Nordic American Tanker

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.

Analyst Recommendations for Nordic American Tanker (NYSE:NAT)

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