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.
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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.
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