Maxim Group Reaffirms “Sell” Rating for Nordic American Tanker (NAT)

Nordic American Tanker (NYSE:NAT)‘s stock had its “sell” rating reaffirmed by Maxim Group in a report issued on Monday. They currently have a $1.00 price target on the shipping company’s stock. Maxim Group’s price objective indicates a potential downside of 54.34% from the company’s current price.

The analysts wrote, “NAT reported 4Q17 results which were ahead of our estimates, but below the consensus forecasts, and remained depressed. The beat was mainly attributable to a higher TCE rate of $13,800 per vessel/day versus our estimate of $10,500 per vessel/day.””

A number of other analysts have also commented on the company. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Morgan Stanley cut their price objective on Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Seaport Global Securities set a $3.00 price objective on Nordic American Tanker and gave the stock a “hold” rating in a report on Friday, January 5th. Jefferies Group raised Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price objective for the company in a report on Thursday, December 14th. Finally, ValuEngine lowered Nordic American Tanker from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.58.

Nordic American Tanker (NYSE NAT) traded up $0.22 during trading on Monday, hitting $2.19. The company’s stock had a trading volume of 2,365,679 shares, compared to its average volume of 2,026,653. The company has a market cap of $292.41, a price-to-earnings ratio of -2.40 and a beta of 0.81. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $8.68. The company has a current ratio of 3.52, a quick ratio of 2.71 and a debt-to-equity ratio of 0.58.

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in shares of Nordic American Tanker by 37.9% in the second 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. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nordic American Tanker in the third quarter worth $158,000. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of Nordic American Tanker by 157.2% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 67,464 shares of the shipping company’s stock worth $166,000 after acquiring an additional 41,232 shares during the period. Belpointe Asset Management LLC bought a new stake in Nordic American Tanker during the third quarter valued at about $241,000. Finally, Voya Investment Management LLC grew its holdings in Nordic American Tanker by 14.0% during the second quarter. Voya Investment Management LLC now owns 46,032 shares of the shipping company’s stock valued at $292,000 after purchasing an additional 5,659 shares during the period. 17.33% of the stock is owned by institutional investors.

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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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