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.
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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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