Nordic American Tankers Limited (NAT) Shares Slide -8%

Nordic American Tankers Limited (NAT) : During the past 4 weeks, traders have been relatively bearish on Nordic American Tankers Limited (NAT), hence the stock is down -16.26% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -7.94% relative to the S&P 500. The 4-week change in the price of the stock is -13.44% and the stock has fallen -8% in the past 1 week.

The stock has recorded a 20-day Moving Average of 9.03% and the 50-Day Moving Average is 13.48%. Nordic American Tankers Limited has dropped 17.97% during the last 3-month period . Year-to-Date the stock performance stands at -16.06%.


Nordic American Tankers Limited (NYSE:NAT): stock turned positive on Friday. Though the stock opened at $12.2, the bulls momentum made the stock top out at $12.385 level for the day. The stock recorded a low of $11.83 and closed the trading day at $12.3, in the green by 0.90%. The total traded volume for the day was 1,875,841. The stock had closed at $12.19 in the previous days trading.

Also, In the latest statement by the brokerage house, Jefferies maintains its outlook on Nordic American Tankers Limited (NYSE:NAT). The current rating of the shares is Underperform, according to the research report released by the firm. The brokerage firm 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.

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