Analyst Price Target Update on Nordic American Tankers Limited (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT): According to 5 Analysts, The short term target price has been estimated at $ 13.4.The target price could deviate by a maximum of $3.05 from the forecast price. In the near term, the target price could hit a high of $17 and a low of $ 10.

Many analysts have stated their opinion on the company shares. Jefferies downgrades their rating on the shares of Nordic American Tankers Limited (NYSE:NAT). The current rating of the shares is Underperform. Earlier, the shares were rated a Hold by the brokerage firm. Equity Analysts at the Firm lowers the price target to $10 per share from $12 per share. The rating by the firm was issued on May 10, 2016. Company shares have received an average consensus rating of Hold for the current week

Nordic American Tankers Limited (NYSE:NAT) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.44 points or 2.78% at $15.37 with 1,304,064 shares getting traded. Post opening the session at $15.7, the shares hit an intraday low of $15.22 and an intraday high of $15.9 and the price was in this range throughout the day. The company has a market cap of $1,371 million and the number of outstanding shares have been calculated to be 89,182,001 shares. The 52-week high of Nordic American Tankers Limited (NYSE:NAT) is $17.45 and the 52-week low is $9.94.

Nordic American Tankers Limited (NAT) is an international tanker company. The Company owns approximately 24 Suezmax crude oil tankers, two of which are newbuildings averaging approximately 156,000 deadweight tonnage (dwt) each. The Companys subsidiaries include Scandic American Shipping Ltd. (Scandic) and Orion Tankers Ltd (Orion). The Companys Suezmax tankers are interchangeable assets within the Orion Tankers pool. NATs vessels include Nordic Harrier, Nordic Hawk, Nordic Hunter, Nordic Voyager, Nordic Fighter, Nordic Freedom, Nordic Discovery, Nordic Saturn, Nordic Jupiter, Nordic Moon, Nordic Apollo, Nordic Vega, Nordic Breeze, Nordic Aurora, Nordic Zenith and Nordic Sprinter. The Companys vessels were built in the yards of various companies, such as Samsung Heavy Industries Co., Ltd, Hyundai Heavy Industries Co., Ltd., Daewoo Shipbuilding and Marine Engineering S.A., Dalian Shipbuilding Industry Co. Ltd. and Bohai Shipbuilding Heavy Industry Co. Ltd.

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