Nordic American Tanker (NYSE:NAT) PT Set at $3.00 by Seaport Global Securities

Nordic American Tanker (NYSE:NAT) has been assigned a $3.00 target price by stock analysts at Seaport Global Securities in a note issued to investors on Friday, January 5th. The brokerage presently has a “hold” rating on the shipping company’s stock. Seaport Global Securities’ price target indicates a potential upside of 12.51% from the stock’s current price. Seaport Global Securities also issued estimates for Nordic American Tanker’s FY2019 earnings at ($0.15) EPS.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley reduced their price target on shares of 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. Jefferies Group upgraded shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price objective on the stock in a research note on Thursday, December 14th. Zacks Investment Research upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Maxim Group dropped their price target on shares of Nordic American Tanker from $3.00 to $2.00 and set a “sell” rating on the stock in a research report on Thursday, December 14th. Finally, ValuEngine cut shares of Nordic American Tanker from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Five research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.17.

Nordic American Tanker (NYSE NAT) traded up $0.04 during mid-day trading on Friday, hitting $2.67. 165,174 shares of the stock were exchanged, compared to its average volume of 2,274,822. The firm has a market capitalization of $373.32, a P/E ratio of -2.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71. Nordic American Tanker has a twelve month low of $2.45 and a twelve month high of $9.39.

Nordic American Tanker (NYSE:NAT) last released its quarterly earnings data on Friday, November 3rd. The shipping company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Nordic American Tanker had a negative return on equity of 6.49% and a negative net margin of 32.51%. research analysts forecast that Nordic American Tanker will post -0.63 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NAT. Schwab Charles Investment Management Inc. grew its stake in Nordic American Tanker by 46.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 435,285 shares of the shipping company’s stock valued at $2,760,000 after acquiring an additional 138,574 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Nordic American Tanker by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 119,174 shares of the shipping company’s stock valued at $756,000 after buying an additional 4,375 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Nordic American Tanker by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 343,384 shares of the shipping company’s stock valued at $2,176,000 after buying an additional 2,019 shares in the last quarter. Airain ltd grew its stake in shares of Nordic American Tanker by 79.8% in the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock valued at $175,000 after buying an additional 12,256 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Nordic American Tanker by 37.9% in the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after buying an additional 4,454 shares in the last quarter. 16.93% of the stock is currently 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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