Nordic American Tanker (NAT) Given New $2.50 Price Target at Morgan Stanley

Nordic American Tanker (NYSE:NAT) had its price objective reduced by investment analysts at Morgan Stanley from $5.00 to $2.50 in a note issued to investors on Monday. The firm presently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s price target indicates a potential upside of 21.95% from the stock’s previous close.

Several other brokerages also recently commented on NAT. Maxim Group reissued a “sell” rating and issued a $3.00 price objective (down from $4.00) on shares of Nordic American Tanker in a research note on Monday, October 23rd. Zacks Investment Research raised Nordic American Tanker from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Jefferies Group raised Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price target for the company in a research report on Thursday, December 14th. Clarkson Capital raised Nordic American Tanker from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Finally, Seaport Global Securities set a $3.00 price target on Nordic American Tanker and gave the company a “hold” rating in a research report on Friday, January 5th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $3.75.

Shares of Nordic American Tanker (NYSE:NAT) traded up $0.08 during trading on Monday, hitting $2.05. The stock had a trading volume of 1,075,230 shares, compared to its average volume of 1,993,845. The stock has a market capitalization of $292.41, a P/E ratio of -2.26 and a beta of 0.81. Nordic American Tanker has a 12-month low of $1.82 and a 12-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.

Several institutional investors and hedge funds have recently modified their holdings of NAT. Principal Financial Group Inc. grew its holdings in Nordic American Tanker by 37.9% during the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 4,454 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Nordic American Tanker during the third quarter valued at $158,000. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Nordic American Tanker by 157.2% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 67,464 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 41,232 shares during the period. Belpointe Asset Management LLC bought a new position in Nordic American Tanker during the third quarter valued at $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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