Nordic American Tankers Limited (NAT) has been under a strong bear grip, hence the stock is down -12.43% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.36% in the past 1 week. The stock has risen by 1.41% in the past week indicating that the buyers are active at lower levels, but the stock is down -11.52% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 4.13% and the 50-Day Moving Average is 11.26%. Nordic American Tankers Limited (NYSE:NAT): On Fridays trading session , Opening price of the stock was $12.44 with an intraday high of $12.46. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $12.19. However, the stock managed to close at $12.21, a loss of 1.21% for the day. On the previous day, the stock had closed at $12.36. The total traded volume of the day was 1,309,379 shares.
Institutional Investors own 33.24% of Nordic American Tankers Limited shares. Also, Equity analysts at the Brokerage firm Jefferies maintains its rating on Nordic American Tankers Limited (NYSE:NAT). The rating major has initiated the coverage with underperform rating on the shares. The Analysts at Jefferies lowers the price target from $10 per share to $8 per share. The rating by the firm was issued on July 27, 2016.
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.