Cleaves Securities Upgrades Nordic American Tanker (NAT) to Hold
Cleaves Securities analyst Joakim Hannisdahl upgraded Nordic American Tanker (NAT) to Hold yesterday and set a price target of $2.90. The company’s shares closed last Monday at $3.23, close to its 52-week low of $2.75.
According to TipRanks.com, Hannisdahl is a 5-star analyst with an average return of 16.4% and a 61.4% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as International Seaways, Eagle Bulk Shipping, and Avance Gas Holding.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Nordic American Tanker with a $2.58 average price target.
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Based on Nordic American Tanker’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $16.29 million and GAAP net loss of $28.66 million. In comparison, last year the company earned revenue of $95.39 million and had a net profit of $12.73 million.
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Nordic American Tankers Ltd. is an international tanker company, which engages in owning and operating of Suezmax crude oil tankers. The company was founded by Herbjørn Hansson on June 12, 1995 and is headquartered in Hamilton, Bermuda.