Analysts Set Nordic American Tanker Ltd (NAT) Target Price at $3.36

Shares of Nordic American Tanker Ltd (NYSE:NAT) have earned a consensus rating of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, five have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $3.36.

Several research firms have recently commented on NAT. Clarkson Capital raised shares of Nordic American Tanker from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Maxim Group dropped their target price on shares of Nordic American Tanker from $3.00 to $2.00 and set a “sell” rating for the company in a research report on Thursday, December 14th. Seaport Global Securities set a $3.00 target price on shares of Nordic American Tanker and gave the stock a “hold” rating in a research report on Monday, February 12th. ValuEngine cut shares of Nordic American Tanker from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Finally, Jefferies Group raised 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 report on Thursday, December 14th.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Nordic American Tanker by 17.0% during the 3rd quarter. Wells Fargo & Company MN now owns 569,292 shares of the shipping company’s stock valued at $3,040,000 after acquiring an additional 82,687 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Nordic American Tanker during the 4th quarter valued at about $987,000. Greylin Investment Mangement Inc. lifted its position in Nordic American Tanker by 40.6% during the 4th quarter. Greylin Investment Mangement Inc. now owns 727,750 shares of the shipping company’s stock valued at $1,790,000 after acquiring an additional 210,225 shares during the period. WealthTrust Axiom LLC lifted its position in Nordic American Tanker by 20.8% during the 4th quarter. WealthTrust Axiom LLC now owns 784,589 shares of the shipping company’s stock valued at $1,930,000 after acquiring an additional 134,898 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Nordic American Tanker by 25.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 545,650 shares of the shipping company’s stock valued at $2,914,000 after acquiring an additional 110,365 shares during the period. 28.68% of the stock is owned by institutional investors.

Shares of NYSE:NAT traded up $0.07 on Thursday, hitting $1.94. The company had a trading volume of 862,230 shares, compared to its average volume of 1,684,273. Nordic American Tanker has a 1 year low of $1.82 and a 1 year high of $8.65. The company has a current ratio of 5.01, a quick ratio of 4.10 and a debt-to-equity ratio of 0.46. The stock has a market cap of $265.48, a price-to-earnings ratio of -2.76 and a beta of 0.71.

Nordic American Tanker (NYSE:NAT) last posted its earnings results on Monday, February 12th. The shipping company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). Nordic American Tanker had a negative return on equity of 9.01% and a negative net margin of 48.82%. The company had revenue of $36.72 million during the quarter, compared to analysts’ expectations of $45.46 million. equities analysts forecast that Nordic American Tanker will post -0.36 EPS for the current fiscal year.

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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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