Maxim Group Cuts Nordic American Tanker (NAT) Price Target to $2.00

Marco Green
December 19, 2017

Additionally on 11/08/17 Morgan Stanley "Maintained" Nordic American Tanker Shipping Ltd (NYSE:NAT) to Equal-Weight setting price target at $5 and on 10/23/17 Maxim Group "Maintained" the stock to Sell at $3. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the a year ago is $5.50.

Other equities research analysts have also recently issued reports about the company. Finally, Maxim Group restated a sell rating on shares of Nordic American Tanker in a research report on Monday, November 6th. Finally, Advisor Group Inc. raised its stake in Nordic American Tanker by 13.4% in the third quarter.

In terms of Buy, Sell or Hold recommendations, Nordic American Tanker Shipping Ltd (NYSE:NAT) has analysts' mean recommendation of 3.7. The rating was upgraded by Jefferies on Thursday, December 14 to "Hold".

Nordic American Tanker (NAT) opened at $2.71 on Monday. Nordic American Tanker has a 1 year low of $2.64 and a 1 year high of $9.39. The company has a market capitalization of $276.28, a price-to-earnings ratio of 67.75 and a beta of 0.88. Its book value per share for the most recent quarter is $7.47 while its price to book ratio for the same period is 0.36, as for as the company's cash per share for the most recent quarter is $0.29, however its price to cash per share ratio for the same period is 9.31. Shareholders of record on Monday, November 13th were given a dividend of $0.03 per share. The ex-dividend date was Friday, November 10th. The difference between the expected and actual EPS was $-0.08/share, which represents an Earnings surprise of -30.8%.

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Nordic American Tankers 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 acquiring an additional 4,454 shares during the last quarter. Wells Fargo & Company MN raised its stake in Nordic American Tanker by 17.0% in the third quarter. Aperio Group LLC now owns 22,476 shares of the shipping company's stock valued at $142,000 after acquiring an additional 7,994 shares during the last quarter. Sigma Planning Corp boosted its holdings in shares of Nordic American Tankers by 44.2% during the second quarter. Advisor Group Inc. now owns 145,885 shares of the shipping company's stock valued at $778,000 after buying an additional 17,263 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Nordic American Tanker in the third quarter valued at $241,000.

Taking a broader look at the analyst consensus, according to 10 analysts Nordic American Tanker Shipping Ltd (NYSE:NAT)'s price will reach at $4.72 during 52 weeks. Airain ltd now owns 27,613 shares of the shipping company's stock worth $175,000 after purchasing an additional 12,256 shares during the period. Institutional investors and hedge funds own 23.68% of the company's stock.

COPYRIGHT VIOLATION NOTICE: "Nordic American Tankers Limited (NAT) Receives Consensus Rating of "Hold" from Brokerages" was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & global trademark & copyright law. Past 5 years growth of Nordic American Tanker Shipping Ltd (NYSE:NAT) observed at -86.13%, looking forward for the next 5 years it has a strong prediction of 5% over growth.

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